Guide language: today’s domestic special steel market price leading region is stable.News surface, today the federal reserve announced the results of the second rate cut this year, the federal funds rate target range will be lowered by 25 basis points to 1.75% to 2%, the us economic growth is lower than the market expected, domestic A shares open high, the overall response is dull, the follow-up will see whether the central bank follow up?The snail opening continued weak lower, market speculation sentiment is not high, wait-and-see sentiment is strong, the market continues to show weakness.
Steel mill inventory has increased and decreased
As of press release date, according to the statistics of Lange steel network: shandong excellent steel bar total inventory 246,500 tons, than last week increased by 0.85 million tons, a sequential increase of 3.38%, compared with the same period last year increased by 64,500 tons, a year-on-year increase of 34.83%.
As of press release date, according to Lange steel statistics: jiangsu excellent steel bar total inventory 286,300 tons, compared to last week inventory decreased by 0.45 million tons, down 1.06% on the quarter, compared to the same period last year down 23,800 tons, down 7.65% year-on-year.
Market prices are stable and weakening
Today’s domestic steel market prices dominated by the main stable.According to the monitoring data of Lange steel cloud business platform, domestic key cities, 45# carbon steel 85mm average quote 3950 yuan, 40cr steel 85mm average quote 4120 yuan, down 1 yuan than yesterday’s market price.
Market: now take the market price of 45# carbon junction steel as an example, huai steel 3900 yuan, hanggang 3920 yuan, nan steel 3880 yuan, dongfang 3850 yuan, luli 3740 yuan, laigang 3850 yuan, xiwang 3860 yuan, juleng 3840 yuan, guangfu 3790 yuan, fulun 3730 yuan, jiangxin 3750 yuan, weigang 3830 yuan and xianggang 3950 yuan.
Futures market weakness lower today, spot market wait-and-see mood is strong, traders generally reported stability.This week’s inventory decline than last week has narrowed, bad spot market mentality, business sentiment is not high, rational shipment operation increased.With the weakness of the futures down, the downstream market more cautious watch, more merchants let go of goods.
Overall, futures are still weak today.The reasons for its decline are as follows: 1. The output of steel bar reaches a new high, with the output of steel bar in August rising 17.1% year on year to 21.909 million tons; 2.Ii. The intensity of production restriction is not as expected;3. Slow release of downstream demand.Current demand to the price still has certain support, but the fundamentals have not changed significantly, the upward momentum is slightly weaker, plus futures diving on the market mentality has a certain impact.Although the futures fell blow to the market mentality to a certain extent, but the overall opinion about the recent market is still relatively pessimistic, combined with long-term policy and environment as well as the current inventory level at present, the National Day special steel market price is estimated to be between zones within the oscillation is given priority to, steel mills in late ex-factory price is expected to give priority to tone.