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SunSirs: Hot Rolled Coil Futures Closed at 5,032 on October 27 and Fell 3.56%

October 28 2021 13:49:07     SunSirs (John)

Price trend

On the 27th, hot rolled coil futures 2201 fell: closing at 5,032, down 186, or 3.56%; opening at 5,258, with a high of 5,320 and a minimum of 5,015, with a position of 560,000 lots, an increase of 7,700 lots. As of the afternoon of the 27th, the hot rolled coil spot price was 5,436 RMB/ton, down 1.84% from the previous day.

Analysis review

On the 27th, the hot rolled coil spot continued to fall, the coke and coking coal futures had a lower limit at the opening, and the black series fluctuated and fell. Many departments strengthened coal resource management and control, and the cost-side support was lowered. In addition, at the end of the month, the capital chain shrank, suppressing the willingness of merchants to keep prices, market sentiment was pessimistic, and transactions were few.

Market outlook

On the whole, in the short-term, the hot rolled coil will fluctuate weakly.

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