Price trend
On the 22nd, the overall performance of the futures disk was strong, and the market confidence was boosted. The quotations of hot rolled coil merchants increased by 20-50 RMB/ton compared with previous day. According to the price monitoring of SunSirs, the average domestic hot rolled coil price was 5,142 RMB/ton.
Analysis review
Traders said that the temperature dropped sharply in some areas, and the rainy weather combined with the spread of the epidemic. After the price increase, the actual shipment performance was not good, and there could be a small profit-cut in the transaction. The overall transaction performance was lower than expected, and the inventory consumption rate was slow in the short term.
At present, although the price of hot rolled coil fluctuates at a high level, the upward momentum of the price in the later period is insufficient.
Market outlook
Overall, in the short term, domestic hot rolled coil will be stabilized and sorted out.
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