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SunSirs: Hot Coil Prices Mostly Fell While Individual Were Stable on September 25

September 26 2019 15:25:05     SunSirs (John)

On September 25, the hot-roll price was 3688 RMB/ton, down 22 RMB from September 24. The mainstream specification price of hot-roll market was 3650-3710 RMB/ton. The overall price of hot-roll fell steadily.

In terms of cost, Tangshan billet price rose 10 RMB to 3 340 RMB per ton, the steel plant will stop production soon, and the inventory pressure of the manufacturer is relatively low, adding industry production restriction news, the willingness of the manufacturer to bid is stronger.

On the market side, Futures HRC 1910 held a green shock, closing at 3,681, down 35, or 0.94%. Affected by this, most of the merchants lowered the price, while the cost end price sentiment was strong, the price reduction was not large, but due to successive shutdowns of downstream construction, demand also declined. Therefore, downstream procurement inquiries are the main, the operation was more cautious, and the steel transaction situation was poor, the overall market sentiment was empty, and the transaction was poor.

On the whole, the demand situation is not good, the business mentality is more pessimistic, and the news of limited production is constant, the price support is stronger, and both supply and demand are weakening. It is expected that the price of hot coil will fluctuate and adjust in a short period of time.

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