Today's Steel Market Updates
Analysis of Steel Market
The steel market keeps dropping today, especially the DCE (Dalian Commodity Exchange) iron ore price and SGX (Singapore Exchange) swap iron ore price both rapidly decline. For example, the decline of iron ore increases the discount for spot goods, the deviation between the partial decline after a slight increase in coal price and market price reduction after the rise in spot coke price. While, the industry products as well as cultural goods market does not obvious tend downward, chemical and agricultural products price gains, etc. Therefore, on the whole, it can be seen that this round of market is relatively independent and it did not constitute a price decline in the entire industrial field.
Price forecast
At present, the steel market has not stabilized yet, but we are not unduly anxious about it. This turn of adjustment does not have the driving force for a deep decline. On the one hand, it's not the right time. The high temperature in summer is the peak of electricity consumption from coal, and it is difficult to reduce the price of coal coke in a short period of time, let alone make profits from coke to steel. On the other hand, the entire industrial product is out of sync, and the decline in iron ore price brings up its weakened demand.The lack of cyclical ups and downs is of little significance. Both bullish and bearish can be achieved for a certain period of time in the future, but with a certain period of cycles, changes in time and space will double the charm of the steel market.
