On June 8, the snail 2210 contract fluctuated within a narrow range in early trading, and closed at 4755 at noon, up 0.13%; the futures 2210 contract fluctuated within a narrow range in early trading, and closed at 4842, up 0.02% at noon.
On June 8, the iron ore 2209 contract fluctuated weakly in early trading, and closed at 916.5 in the afternoon, down 1.56%.
On June 8, the coking coal 2209 contract fluctuated strongly in early trading, and closed at 2907 at noon, up 1.27%; the coking coal 2209 contract fluctuated within a narrow range in early trading, and closed at 3690.5 at noon, up 0.30%.
As of press time, the main contract of futures snails was quoted at 4,755 yuan/ton, a discount of 55 yuan/ton compared with the Shanghai market 20mm grade 3 seismic rebar (calculated); among the 31 major cities in the country, Hangzhou, Nanchang, Changsha, Beijing and other market threads Steel prices rose by 10-20 yuan/ton, and markets such as Hefei, Xining, and Urumqi fell by 10-40 yuan/ton.
Macro: Li Keqiang demanded to promote positive growth in freight volume as soon as possible; Han Zheng demanded the construction of a high-quality futures market to play a positive role in ensuring supply and price of bulk commodities; the World Bank lowered its forecast for global economic growth in 2022 to 2.9%.
Industry: Zelensky said Ukraine will suspend exports of natural gas and coal to meet domestic supplies, but he did not say when it will stop exports. According to Mysteel‘s survey of 237 traders, the trading volume of building materials on June 7 was 126,900 tons, a decrease of 26% from the previous month.
After the centralized replenishment before the Dragon Boat Festival, the enthusiasm for purchasing downstream terminals has decreased recently, which is also related to the heavy rainfall in the south and the impact of the progress of some construction sites during the college entrance examination.
Although under the influence of the traditional off-season, the road to recovery of demand is tortuous, but in the context of the domestic economic recovery is expected to heat up and infrastructure projects set off a “rush to work” background, the market mentality is generally stable, and short-term steel prices may fluctuate within a narrow range.
