October domestic construction steel market shocks downward
In the first half of October, the holiday market turnover is light, and after the holiday demand continues to be sluggish, but during the period of futures snail stop domestic macro-good news superimposed on the strong performance of the foreign market, the overall market sentiment is better, steel prices still maintain a higher range before the holiday run.
In the middle of the month, with the futures trend gradually return to the fundamentals, the plate also from the highest 3900 points near all the way down, once fell below the 3600 point mark, coupled with the acceleration of the growth rate of social inventory accumulation, significantly intensify the market for the post-market demand concerns. The supply side, steel mills due to environmental restrictions on production disturbances superimposed on into negative feedback, iron demand growth is expected to top also increased raw material pressure, cost support weakened significantly, spot prices under pressure to accelerate the fall, prices fell nearly 200 yuan. Market confidence was hit hard, the trading atmosphere is cold.
In the second half of the year, with the release of domestic economic data less than expected, coupled with the end of a major meeting late no obvious good news, macro sentiment is poor, the lowest plate fell to a record low near 3400 points, the market mentality then collapsed, prices fell at an accelerated rate.
According to the data monitored by Lange Steel Network, as of October 31, the national steel price index was 4,082 yuan (tons, the same below), down 5.6% month-on-month and down 28.2% compared with the same period last year. The high wire index was 4,113 yuan, down 236 yuan from last month; the rebar index was 3,877 yuan, down 300 yuan from last month
