SunSirs: On March 17, the Price of Galvanized Sheet Was Mixed, and the Wait-and-see Was Still Strong
March 18 2022 09:11:36 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the average spot price of galvanized sheet on the 17th was 5,963.33 RMB/ton, and the average spot price of color coated sheet was 8,266.67 RMB/ton.
Analysis review
The futures market began a sharp correction, stimulated by good news in the capital market, and the market sentiment was optimistic. The sentiment of price increases in some regions was gradually rising, and low-price transactions were acceptable. However, due to the interest rate hike by the Federal Reserve and the expansion of the epidemic, the demand for procurement was tepid, and the spot price had insufficient momentum to rise. On the whole, there was weak reality and strong expectations, and spot resources were mixed throughout the day.
Market outlook
Affected by stricter epidemic control and rainy weather, the demand for galvanized sheet will recover slowly, and prices may be mostly stable.
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