SunSirs: Hot Rolled Coil Futures Closed at 5,666, Up 0.28% on October 14
October 15 2021 13:38:09 SunSirs (John)
Price trend
On the 14th, hot rolled coil futures 2201 oscillated and closed up: closing at 5,666, up 16, or 0.28%, opening at 5,620, with a maximum of 5,729 and a minimum of 5,560, with a position of 360,000 lots, lighten up more than 10,000 lots. As of the afternoon of the 14th, the hot rolled coil spot price was 5,780 RMB/ton, up 0.24% from the previous day.
Analysis review
On the 14th, the national hot rolled coil spot price rose slightly, and the price went up. However, the overall market transaction was general, the mentality of steel manufacturers weakened, and the price contracted at the close of the market.
At this stage, the steel industry's production restriction has been relaxed, the market is cautious, high-level transactions are relatively weak, and most downstream purchases are just needed to replenish the inventory.
Market outlook
On the whole, the price of hot rolled coils in the short-term will be adjusted within a narrow range.
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