Steel prices fell steadily today and are expected to remain weak tomorrow

Today's market: steel prices fell steadily and futures fell sharply

Snail fell 159 to close at 5468, volume fell 166 to close at 5511, iron ore rose 16.5 to close at 684.5, coking coal fell 183.5 to close at 2800 and coke fell 262 to close at 3197.5.

In terms of spot, 15 of the 24 rebar markets fell 10-60, 2 markets rose 20-30, and the average price fell 24; Among the 24 hot coil markets, 19 markets fell 20-60 and the average price fell 34; Among the 23 markets of the medium board, 13 markets fell by 10-40, 3 markets rose by 10-50, and the average price fell by 10.

Influencing factors:

1. Zheng Shangsuo: increase the transaction fee of some contracts of thermal coal futures: from the night trading on September 24, 2021, the transaction fee standard of 2110, 2111, 2112 and 2201 contracts of thermal coal futures is adjusted to 60 yuan / hand, and the transaction fee standard of daily closing position is adjusted to 60 yuan / hand. Bad futures trading.

2. A number of land reserve price transactions have resulted in an increase in flow Auctions: the second round of centralized land auctions in Suzhou and Chengdu has ended. Different from the hot market of the first round of centralized land supply, this round of land auctions is not hot, the premium rate has decreased compared with the first round, and land flow auctions have also increased significantly. Steel demand starts slowly.

3. According to CISA, the output of key steel enterprises decreased in early September: the daily output of crude steel was 2044900 tons, a month on month decrease of 0.38% and a year-on-year decrease of 4.29%; The daily output of pig iron was 1817300 tons, a month on month decrease of 0.05% and a year-on-year decrease of 4.16%; The daily output of steel was 1933700 tons, a month on month decrease of 7.61% and a year-on-year decrease of 3.28%. The output of steel enterprises continued to decline.

Tomorrow's view: the black futures fell sharply, the mood of spot operation was frustrated, coupled with the continuous rise of steel prices, the downstream terminals watched more and replenished more stocks on demand. Under the condition of weak market supply and demand, it is expected that the steel price will fall steadily tomorrow.