First week of the New Year 2019: Narrowing of domestic steel prices

Shanghai, January 6 (Xinhua) Li Rong with the performance of the relevant futures market, the opening of the new Year in 2019, the decline of the domestic spot steel market narrowed, at a relatively low price, the transaction has improved. The first trading week after New Year's Day 2019, the actual only 3 days of trading day, the domestic spot steel price composite index reported at 140.24 points, lower than the previous trading week decreased by 0.88%. Specifically, the relevant futures market first inhibition, to the end of the weekend, rebar futures than before the festival increase significantly.

　　Spot Steel City as a whole still presents a volatile trend, but the decline began to slow down, low transactions have improved. According to the analysis, in the construction steel market, the price fell slightly. National Main market mainstream specifications rebar varieties of the average price of 3930 yuan per ton, a week down 47 yuan.

　　According to the latest published inventory data, in the case of a small decline in the production of threaded steel, the impact of weaker demand, social inventory and steel plant inventory are showing a cumulative increase in the trend. In the plate market, the overall price is weak. Hot Rolled plate coil price fell slightly, the country's main market mainstream specifications hot rolling products market average price of 3734 yuan per ton, a week down 33 yuan. Medium and thick plate prices fell slightly, the country's main market mainstream specifications PU plate average price of 3836 yuan per ton, a week down 11 yuan.

　　At present, the market confidence is weaker, business operations mostly to actively ship mainly, winter storage will be low. Relevant institutions analysis that the spot steel market supply and demand basic surface, is still in a two weak state. As year off approaches, terminal demand will shrink further, and in the short term the market price will still be dominated by concussion and weak operation.

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