Steel prices will rush to 5000?

Steel price rising

Steel price rising

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.

Spot quote

Building Material
Re bar 20mm HRB400E Change
Aug.7 Aug.8
Shanghai 4250 4280 30
Handan 4260 4260 0
Zhengzhou 4460 4480 20
Guangzhou 4600 4640 40
Shijiazhuang 4230 4250 20
Jinan 4330 4360 30
Xi’an 4420 4460 40


4.75mm hot rolling coil Q235 Change
Aug.7 Aug.8
Shanghai 4330 4320 -10
Handan 4220 4220 0
Zhengzhou 4250 4250 0
Guangzhou 4360 4350 -10
Shijiazhuang 4320 4310 -10
Jinan 4290 4290 0
Xi’an 4360 4360 0
Medium plate


common 20mm Change
Aug.7 Aug.8
Shanghai 4400 4410 10
Handan 4320 4320 0
Zhengzhou 4370 4390 20
Guangzhou 4480 4490 10
Shijiazhuang 4280 4310 30
Jinan 4430 4430 0
Xi’an 4390 4390 0

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.

Trade wars increase to $50 billion

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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