Price of steel plate in recently is still hard to rise

Source:2020-3-19

    The prices of hot rolled plates and coils in China's major cities fell sharply on the 19th, with the national average price of 3.0mm hot rolled coil of 3579 yuan / ton as of the time of publication, 27 yuan / ton lower than that of the previous trading day, and the national average price of 4.75mm hot rolled coil of 3515 yuan / ton, 27 yuan / ton lower than that of the previous trading day. steel plates price only in some cities of Southwest China rise, while others fell. Today, the price of black commodity futures market first fell and then rose, closing down slightly. The quotation of opening merchants in the spot market fell sharply, showing panic like decline. Today's transaction is basically speculative demand in the afternoon, and the actual terminal demand is basically small. 
    From the current basic point of view, although the inventory ushered in a turning point, but the high inventory, coupled with the increase of shutdown affected by the epidemic abroad, the domestic plate export is difficult, only driven by domestic demand, then the pressure of steel plate destocking in the later stage is still very large. On the whole, after today's mood release, it is difficult for prices to fall in a short term, or there is room for recovery, but the overall pressure is still very big, so we need to be alert to the possibility of falling back after the later price rise.
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