SunSirs: On March 1, the Hot Rolled Coil and Cold Rolled Sheet Returned to the Upward Trend
March 02 2022 10:10:28 SunSirs (John)
Price trend
On March 1, the domestic market continued to pick up. The average price of the national hot rolled coil market was 5,068 RMB/ton, an increase of 3.26% in the past two days; the average price of the national cold-rolled market was 5,516.67 RMB/ton, an increase of 0.67% over the previous trading day.
Analysis review
Raw material side: The price of iron ore rose sharply today, with an increase of 43-54 RMB/ton. Last week, the amount of iron ore to the port decreased by 2.08 million tons from the previous month, and the supply was reduced. In February, overseas ore shipments continued to decline due to the weather. Tangshan steel billets rose slightly. The coke market remained strong, and supply became tight. Due to the epidemic, transportation in some areas was also restricted to a certain extent. The cost of raw materials increased, and the cost of steel mills further increased.
According to the understanding of SunSirs, in late February, the SBR plant of Yangzi Petrochemical was temporarily shut down, and the domestic SBR enterprises were basically operating normally, and the supply side was slightly reduced but overall loose.
Demand side: Downstream demand has risen as rapidly as the temperature, and speculative demand has been released recently. The PMI data in February also reflected that the manufacturing demand started better than expected. Coupled with the macro boost, the transaction atmosphere has improved significantly. The futures rose widely, and the merchants were in a strong mood to pull up, and the transaction slowed down after the pull up.
Market outlook
On the whole, it is expected that the price of hot rolled coil will fluctuate strongly in the short term.
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