SunSirs: On November 11th, Emotions Were Boosted and the Price of Hot Rolled Coil Went Up
November 12 2021 14:07:03 SunSirs (John)
Price trend
On the 11th, the hot rolled coil futures 2201 limit: closing 4,696, up 347, an increase of 7.98%; opening 4,480, the highest 4,696, the lowest 4,421, open interest is 480,000 lots, a decrease of nearly 40,000 lots.
Analysis review
On the 11th, the hot rolled coil futures bottomed out and rebounded. It opened at 4,614 in the morning and hit the daily limit at 4,696, rising by more than 7%.
In terms of mentality, the rebound in the futures market has boosted the market mentality, the downstream enthusiasm for acquiring goods has improved, and the market trading atmosphere has performed well; macroeconomic policies have repeatedly shown positive signs, real estate companies’ financing will be moderately relaxed, and companies’ willingness to expand production increased, which have increased the amount of steel purchases to a certain extent.
In addition, 28 steel mills issued maintenance plans, some of which were in unsaturated production, and overall output declined slightly.
Market outlook
On the whole, the hot rolled coil may run strongly in the short term.
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