SunSirs: On July 29, the Cost Rose and the Finished Product Was Limited in Production
July 31 2020 07:50:58 SunSirs (John)
Price trend
On the 29th, the price of profile materials remained stable.
Analysis review
In terms of cost, the quotation of Tangshan billet on the 29th was 3,380 RMB/ton, an increase of 10 RMB/ton from yesterday. Recently, Tangshan's production restriction policy has continued to ferment. Some steel mills have relatively few resources. Coupled with the increase in the cost of raw materials, manufacturers were firm in their willingness to support the price.
In the market, on the 29th, futures rebar prices maintained an upward trend throughout the day, and market sentiment seemed to improve. Due to the impact of the production restriction policy, most steel mills have few resources, but near the end of the month, merchants intend to control their own inventory and sell at stable prices to withdraw funds, while downstream procurement is still dominated by replenishment operations, and demand is unlikely to recover significantly in the short term. The overall market The transaction situation is average.
Market outlook
On the whole, the cost-side support has become stronger, and production restrictions will affect the resources of steel mills. Steel mills are willing to stand up for prices. In the short term, traders are willing to sell goods. It is expected that profile prices will fluctuate in a narrow range in the short term.
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