INDUSTRY NEWS
On the raw material side of the steel market this week, the price of iron ore is expected to fluctuate, the price of double coke will be weak in the short term, the price of scrap steel will fall slightly, and the billet price will fluctuat
Stop falling.
Macro aspect:
The national manufacturing PMI fell sharply to 35.7% in November, and returned to below the line of prosperity and dryness, and hit a record low. The average of the previous two months was 42.9%, which also reached a new low in the same period in 14 years, pointing to a marked weakening of the manufacturing boom. Last week, the central bank suspended operations in the open market. The reverse repurchase expired 300 billion yuan. Last week, the central bank netted 300 billion yuan. Internationally, out of concern about the global spread of the epidemic, the risk aversion in financial markets has risen. Fed Chairman Powell issued a statement saying that he is closely monitoring the evolution and impact of the new crown pneumonia epidemic and will take appropriate actions to support the economy when necessary.
View of the week:Shock
The price of imported iron ore dropped sharply last week. Looking at this week, in terms of supply, overseas mine shipments and domestic port arrivals are basically stable. As domestic mines gradually resume production, domestic mine supply is gradually recovering. On the demand side, this week's re-production blast furnace and maintenance blast furnace are basically the same. It is expected that the molten iron production will fluctuate within a narrow range. It is predicted that this week's ore price may be oscillating. However, the contradiction of the material end has not been resolved. The risk of falling mineral prices.
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