Steel prices will rush to 5000?
Futures market analysis
Following the slight adjustment of last night trading,the steel opened today has a shock rising trend.From a technical point of view,the rising pattern of steel has not changed.In theory,steel prices have room to rise.In strong commodities,the price rises and then rises,and even there is no decent callback.The excessive increase is never the reason for the decline.
Since the rising normal has continued,the judgment of the rise will not change.
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According to the statistics,today the rising of building material is the biggest,the average rise is 19RMB/ton, medium plate is 10RMB/ton,coil is 1RMB/ton.
The increase in Infrastructure investment is significantly positive to building materials.
With the decline in investment growth in the first half of the year,many places are planning to increase investing in infrastructure projects in the second half of the year.
Trade wars increase to $50 billion.
On August 8th,Taiwan media reported that the US Trade Representative Office (USTR) announced the second batch of tariffs on the commodity imported from China,with value of US$16 billion,which came into effect on the 23rd,which further escalated the Sino-US trade war.
According to a report by Taiwan’s United News Network on August 8,USTR said that the final list includes 279 of the 284 tariff items announced on June 15,including motorcycles,steam turbines and other products,which will impose a 25% tariff.
Reported that,this is the second time since July that the United States has adopted tariff measures on Chinese imports.On July 6,the United States imposed a 25% tariff on Chinese goods valuing 34 billion U.S. dollars,and Beijing immediately adopted reciprocal retaliatory measures.The Chinese government has announced that it will take a counterattack against these tariff measures involving $16 billion.
The scale of trade war will reach 50 billion U.S. dollars.
In summary,steel price is expected to rise in next week.
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