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Steel rebound will evolve into reverse or drive steel prices

    Stabilized steel rebound burst on the scene, concerned at the pressure above the 60 day moving average. If the rebound kinetic energy sufficient, when breaking the fetters of the 60-day moving average is expected to challenge after the high point of the year. But investors need not rush, you can test the line resistance in the plate when the amount involved in more than a single band, the proportion of positions to no more than 30% is appropriate.

    The macro side: S & P credit rating of the U.S. AAA rating outlook from 'stable' down to 'negative', which means that within the next 6-12 months, the U.S. Standard & Poor's sovereign rating may be lowered.swing chain Although the U.S. credit rating is little risk of being cut, but the U.S. credit rating outlook cut to reduce the fiscal deficit has made the United States to further improve the certainty, although some people think that this market will have negative effects, we compared the memory object, even if United States is now introduced quantitative easing monetary policy, its effect on the market to truly reflect the still need one or two quarters. Moreover,iron chain the U.S. has not yet launched easing move.

    March, CPI rose 5.4%, PPI rose 7.3%, both record highs. The central bank on April 17 announced the date of raising the deposit from 21 financial institutions of RMB deposit reserve ratio by 0.5 percentage points. Expected in the next period of time, the central bank will continue to take 'raising the deposit reserve rate + interest rate' policy mix, but in order to prevent hot money inflows, interest rates will be more cautious. Can be said that we have missed the best time to curb inflation development.

    Fundamentals: National Bureau of Statistics data showed domestic crude steel production in March was 59.42 million tons, average daily production was 1,916,800 tons, a decline of 22,800 tons. The current terminal needs good cash reserves have declined for 6 weeks. As of April 15, the nation's major cities was 7.614 million tons steel stocks, down sharply from the previous month's high of 1.123 million tons or 14.5%; the major cities of the wire stock to 2.039 million tons, down from the previous month's high of 54.6 tons or 21.1%. With the stock gradually digested, steel traders in the cash flow has improved the confidence of the market outlook has also been restored.

    Coke spot prices remain stable, Change dilemma again. The coke was in advance of the price of coking coal prices reflect the expected sharp rally, the current contract price of the main coke 2340 yuan / ton, have been significantly higher than the spot price of coke. But the price of coke on the effectiveness of transfer to the spot market, still need verification.

    Technical aspects: rebar futures prices in the 60-day moving average with the dual pressures of 8, short-term savings will continue to reinforce the momentum and the bottom side difference. Investors are advised to wait and see now the main single band.

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Zhejiang Pujiang Shenli Chain Co.,Ltd.Professionally manufacture swing chain,iron chain.