May 5, 2022
According to the price monitoring of SunSirs, on the 27th, the average price of the domestic hot coil market was 5,022 RMB/ton, and the average domestic cold rolled market price was 5,640 RMB/ton.
Affected by the good news of strengthening infrastructure construction on the evening of the 26th, the black-based futures rose to the red. The positive impact of the night trading continued in the morning of the 27th, the confidence in the spot market was boosted, and traders' quotations remained unchanged and strengthened. In the afternoon, the increase narrowed, and some merchants could negotiate actual orders. The main reason was that the National Development and Reform Commission guided the reasonable operation of coal prices, the cost-side support of steel companies was weakened, and the epidemic prevention and control situation was still severe. The market trading atmosphere was cautious and transactions were limited.
On the whole, the market demand is still weak, and logistics and construction are still limited. However, as the May 1st approaching, the market stocking demand is released, and it is expected that the market will fluctuate before the holiday.