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Steel Market Changes Frequently How To Greet The New Year

Time: 2018-02-10 Category: Industry Information Tag: Steel Changes Frequently New Year
Summary: Since the New Year's Day, the demand of steel continue being cooled down, the turnover of whole market is not sounding enough and the steel prices is all the way down. Not only did low-cost resources keep appearing in the market, but also the prices of steel fall down as much as 1000 yuan/ton.The survey of market shows that current steel price s have dropped to a relatively low position that has been very close to traders' psychological price. Right now, the merchants on the market are waiting for take chances to stock.As of last week,prices stopped dropping and came out the signs of rebounding, which led traders to low down the storage of demand in the winter, through that the price of steel got some supports.However, how the steel market works as the Spring Festival approaches?
Since the New Year's Day, the demand of steel continue being cooled down, the turnover of whole market is not sounding enough and the steel prices is all the way down. Not only did low-cost resources keep appearing in the market, but also the prices of steel fall down as much as 1000 yuan/ton.The survey of market shows that current steel price s have dropped to a relatively low position that has been very close to traders' psychological price. Right now, the merchants on the market are waiting for take chances to stock.As of last week,prices stopped dropping and came out the signs of rebounding, which led traders to low down the storage of demand in the winter, through that the price of steel got some supports.However, how the steel market works as the Spring Festival approaches?
Steel Market Changes Frequently How To Greet The New Year
Look back to the market: the prices stopped dropping and cam out the signs of rebounding. it just took one week that the prices have rose around 100-200 yuan, which can be  ascribed to the fast declining of pre-price. The atmosphere of spot market was rose up.With steel prices constantly rising, the mood of bewilderment was spread put among merchants. As a result, the situation as getting more commodities at once time was shaped up. The result turns out the transaction turned towards a bright direction and the prices unstopped to rise. However, the risk of getting commodities raked up and the atmosphere of the spot wait-to-see was thick. Before Chinese New Year, I think the short-term adjustment of steel price with put shocking adjustment at the center because of the incomplete condition of dropping and rising in a large-scale. The main reasons as follows:

Demanding Reason: According to the weather forecasting, the most areas of southern China are facing with heavy winds and cool weather due to the cold air during the daytime.At the same time, there are heavy snowfalls in Shanxi, Henan, Hubei, Anhui and Zhejiang. Under adverse weather conditions, the terminal site can not be constructed and the demand is declining day by day. In addition, the steel shipment and shipping will be significantly affected by heavy snowfall.As a result, the merchants will lose patience and become anxious to ship their products to cash,eventually bearish sentiment is stronger.