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SunSirs: On September 23, Hot Rolled Coil Futures Closed at 5,612, Down 0.8%

September 24 2021 14:04:25     SunSirs (John)

Price trend

On the 23rd, hot rolled coil futures 2201 opened higher and then lowered: closing at 5,612, down 45, or 0.8%, opening at 5,761, with a high of 5,795 and a minimum of 5,585, with a position of 460,000 lots, an increase of 40,000 lots. As of the afternoon of the 23rd, the hot rolled coil spot price was 5,780 RMB/ton, up 0.03% from the previous day.

Analysis review

On the 23rd, hot rolled coil futures 2201 opened higher and then moved lower, hot rolled coil spot prices were stable with individual rise. Affected by the country's low-carbon environmental protection development, in addition, the production of caps and power restrictions have been implemented at the same time, the output of steel companies has continued to decline and the willingness of merchants to maintain prices is relatively strong. However, the high-level transactions were slightly weak, and the afternoon transactions were weak, and the overall transaction volume declined compared with the previous day.

Market outlook

On the whole, the post-holiday market is relatively unstable, and the price of hot rolled coils will be stabilized in the short term.

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