SunSirs: In July, the Raw Materials End "Game" Is Fierce, and the Hot Rolled Coil Rises and Falls with the Raw Materials
July 21 2020 14:53:52 SunSirs (John)
Since July, the price of hot rolled coil has risen first and then fell, and then fluctuates. Overall, the price has risen slightly, as shown in the figure above. Under the premise that market demand is weak due to the impact of the industry’s off-season and high temperature and rainy weather, commodity prices mostly fluctuate with changes in raw material prices. According to the comparison of SunSirs index, the price of hot coils mainly rises as the price of iron ore rises, and decreases as the price of coke plunges.
The main factor for the price increase of hot rolled coil in early and mid-July was the strong support of raw material cost prices, which caused manufacturers to increase their sentiment, coupled with the speculation of some early production restrictions.
In the short to medium term, the rainy weather conditions may be reduced, but it is gradually entering the stage of high temperature weather. The industry is still in the seasonal off-season, the demand-side construction efficiency is reduced, and the downstream procurement willingness continues to be sluggish. It is difficult to make a big breakthrough in the short term. Spot prices mostly supported by the cost of raw materials, the hot rolled coil analysts of SunSirs believe that the price of hot rolled coil will fluctuate and stabilize in the short term.
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