On the 5th domestic billet prices showed a broad upward movement compared to Friday, with a range of 20-90 yuan/ton, and the transaction performance was first available and then weak, with the overall still holding a high cautious wait-and-see atmosphere. Driven by the high futures surface on Friday, Tangshan billet prices showed a wide range of upward movement over the weekend, a total of 50-70 yuan/ton cumulative increase over the two days. Overlay Monday morning futures to continue the high opening situation, the market pull up sentiment is more obvious, each species are showing different degrees of upward market. But the good fortune did not last long, with the plate as the plate futures rushed up and down, while the high demand release speed slowed down, the overall cautious wait-and-see situation gradually increased, after the afternoon some cities billet spot resources appeared back to the market. As of press time, Tangshan reported 3620-3630 yuan/ton and Jiangyin reported 3740 yuan/ton. From the current market point of view, the recent epidemic control and economic stimulus driven by the release of the market strong expectations, weak reality gradually increased, so the futures plate continued to show upward trend, this situation pushed up the trading sentiment improved, coupled with the current market overall inventory level is low, so some replenishment situation gradually increased, demand has been released, so the price more upward trend. But after all, the current in the traditional consumer off-season, although the epidemic is gradually released, but the demand follow-up situation to be examined, in addition to the high price of most manufacturers are still reported cautious wait-and-see mentality, so once the futures plate high fall, the market price or will show a weak retracement of the trend, so near the expectation of merchants to watch the futures plate trend.
