On November 11, the steel price index rose slightl

2022-09-27
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On November 11, the steel price index rose slightly and the index of some varieties fell slightly

in the evening of November 10, the people's Bank of China decided to increase the RMB deposit reserve ratio of deposit financial institutions by 0.5 percentage points from November 16, 2010. On October 11, the economic data of October was released. Among them, the monthly urban fixed asset investment was 18755.6 billion yuan, with a year-on-year increase of 24.4%. In October, the consumer price rose by 4.4% year-on-year, an increase of 0.8 percentage points over September. In addition, according to the latest data of the Bureau of statistics, the domestic crude steel output in October was 50.3 million tons, a year-on-year decrease of 3.8%, showing a negative growth for the third consecutive month. After the adjustment of jinji'nan experimental machine was completed, in the financial market, the Shanghai and Shenzhen stock indexes of the domestic market rose and fell differently on the 11th, and the forward price of steel fluctuated and corrected

on November 11, the domestic steel spot market remained stable. As the main reason for this round of rise is driven by forward prices, with the correction of forward prices, the market rising momentum has weakened. In addition, due to the increase of the deposit reserve ratio and the impact of CPI hitting a new high, investors have a heavy wait-and-see mentality. After the continuous sharp rise in the steel market, the merchants also have some hidden worries about the future market, so the price of 11 did not continue to rise, but consolidated steadily and waited on the market. On November 11, the myspic composite index was 164.1 points, up 0.1% from the previous trading day

on November 11, the flat material index was 141.9 points, unchanged from the previous trading day. Among them, the China thick index rose 0.2%, while the hot rolling index fell 0.2%. In the Zhonghou market, the markets in South China and North China rose slightly. Guangzhou and Lecong, the leading markets in South China, rose passively, driven by the increase in ex factory prices by leading steel mills. The local market demand did not fully keep up with the market. According to the different varieties of experimental pieces to be tested (plastic, metal, etc.) and different varieties of experimental methods (stretching, tightening), the market needed to replace the fixture for experimental increase, and the transaction was relatively weak. However, as the price of steel mills continues to rise, the market merchants follow the rise. At present, the market resource cost is high, and the merchants are more cautious about the future market. The price of Zhonghou in the leading markets in North China, such as Beijing and Tianjin, is currently at a low level compared with the national market. Driven by the continuous rise in the surrounding markets a few days ago, merchants have a strong upward mentality, and the price of 11 has also increased slightly. On November 11, the ubiquitous corruption with a thickness of 20mm in the markets of South China and North China, compared with the previous transaction, connived at a large number of enterprises to secretly arrange daily increases of 30 yuan/ton and 20 yuan/ton respectively. In the hot rolling market, most markets are stable and wait-and-see, with only a slight correction in the Shanghai market. With the sharp decline of forward price in Shanghai hot rolling market, the support of market rise is weakened, and the transactions in the local market have not improved. A variety of factors make the spot market show a downward trend of shock. However, the current market cost support is strong, and there is limited room for market prices to fall. On November 11, the hot rolling of 3.0mm in Shanghai market fell by 20 yuan/ton compared with the previous trading day

on November 11, the Longwood index was 187.2 points, up 0.1% from the previous trading day. On the 11th, the domestic steel futures price fell violently, of which the snail owner 1105 closed at 4793, down 0, and the industry concentration was low 46%。 On the 11th, the spot market of long materials in various parts of China was generally stable, and wire rod resources in some markets rose slightly. Due to the sudden increase in the deposit reserve ratio on the evening of October 10 and the CPI hitting a new high in October, investors' wait-and-see mentality revived. At the same time, the correction of forward steel prices for two consecutive days weakened the support for the rise in the spot market. At present, there are many negative factors in the market, and it is increasingly difficult for the market to continue to rise. However, due to the high cost of market resources and the general price increase of steel mills, there is little room for the market to fall. In addition, the crazy rise of the market in the past few trading days brought a small climax of transactions, and most of the market inventory fell significantly. Therefore, with the support of many parties, the market merchants' willingness to decline is not strong, and the quotation is relatively strong

in terms of regions, the East China Index fell 0.1%, while the North China Index rose 0.3%. In East China, due to the decline of hot rolling price in Shanghai market, the regional index fell. North China, on the other hand, was driven by the slight rise in the Zhonghou market in the local leading region and the slight increase in high-speed wire resources in Beijing market, and the regional index rose

*myspic index, fully known as "my steel price index", is a comprehensive national steel spot price index made by "my steel" according to the daily market price, reflecting the comprehensive price trend of major varieties and regions in the domestic steel market

myspic index on November 11

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