SunSirs: Profile Prices Fell Slightly on October 21
October 22 2019 15:06:00 SunSirs (John)Price trend
The price of profiles on the 21st fell slightly, with a drop of around 20 RMB.
Analysis review
In terms of cost, the price of steel billet was lowered by 20 RMB on the 21st, and the price of raw materials such as iron ore was down. Although the inventory of the manufacturer was less due to the restriction of production, the competition in the raw material market was intensified, and the business sentiment was pessimistic.
In terms of market, the futures market fell in early trading, and then operated in shock. The demand situation of downstream market did not improve. The merchants were short for the future market, and the downstream merchants operated cautiously, and purchased on demand. The overall transaction situation of the market was poor.
In terms of supply and demand, the environmental protection news continued. On the 20th, the environmental protection policy in Hebei Province was further strengthened, and many steel plants were gradually shut down, and the steel production continued to decrease; there was no good news from the downstream, and the release of demand was weak.
Market outlook
On the whole, the policy of limiting production has been strengthened, the supply and demand fundamentals have turned into a weak balance, and the steel market is vulnerable to sentiment. However, on the 21st, the futures market fell in shock, and the market bearish sentiment prevailed. In addition, the cost end support has turned weak, and the angle steel price is expected to weaken and fluctuate in the short term.
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