Attention!Steel market after the high into the horizontal zone next......

After experiencing yesterday's crazy pull to rise, stock market quotation appears differentiation, rise and fall to stop each other reflect, black system whole rise is obviously not as good as yesterday, coking coal diving, other mainstream varieties in the night after surging, the early trading appeared a small amount of shrink back, the whole to the crosswalk interval concussion.The highest prices of iron ore and iron ore both appeared at night, reaching 3,857 yuan and 893 yuan respectively, leveling new highs for the year.By the close of trading, iron ore accounted for more than 700 million dollars, while bicoke suffered nearly 500 million dollars in rapid abandonment.

Spot market with disk pull up, steel billet also reached a high of 3440 yuan in the year, the price of finished material in a few yuan range, but the overall increase has narrowed slightly, the transaction atmosphere cooling, terminal procurement and speculation reduced, compared with yesterday's shipping conditions significantly shrink, individual areas transaction halved.

At present, from the point of view of the current market, demand and rise in the space after the concentration of volume, the driving force is not very sufficient.In addition, the macro-positive driving force reached its peak, and there was a period of calm after digestion and a buffer period of market sentiment, so the market as a whole needed to upgrade the motivation to drive, the capital end is also faced with falling pocket for safety, pay attention to the trend of the night trade and the change of market sentiment and the impact on the spot market.

On the macro front, the People's Bank of China held a working video conference for the second half of 2020 yesterday to analyze the economic and financial situation and make plans for key work in the second half of the year.Financial policies paid more attention to directness and precision, strengthened risk monitoring and assessment, and paid more attention to changes in financial risk margin. No mention was made of the RRR cut and interest rate cut. The easing intensity in the later stage may show some signs of slowing down, but the market liquidity is still abundant through local government bonds and other financial means.

In July, local governments issued 272.2 billion yuan in bonds, including 42.2 billion yuan in new bonds and 230 billion yuan in refinancing bonds.By the end of July, a total of 3,758.6 billion yuan of local government bonds had been issued this year.The newly increased bonds accounted for 59.8% of the annual issuance plan (473 billion yuan), of which 57.4% of the annual issuance plan (980 billion yuan) was issued for general bonds (562.9 billion yuan).Special bonds were issued totaling 2,266.1 billion yuan, 60.4 percent of the annual target of 3,750 billion yuan.

In the absence of a particularly large negative disturbance, the market is still looking forward to the marginal improvement of the demand end in the later period, even if the pullback is not particularly obvious for the time being.

Prices, according to the monitoring data shows that, today, the domestic major cities Ф 25 mm tertiary rebar average price of 3786 yuan (tons of price, similarly hereinafter), was yesterday hit 15 yuan;Domestic major cities Ф 6.5 mm line average price is 4064 yuan, from yesterday rose 16 yuan.The average price of 5.5mm hot rolled coil in key cities in China is 3965 yuan, up 11 yuan compared with yesterday.The average price of 1.0mm cold plate in key domestic central cities is 4410 yuan, up 9 yuan compared with yesterday;Domestic key city 20mm board average price 3944 yuan, compared to yesterday up 12 yuan.

In terms of raw materials, today, the square billet of 150*150 carbon in Changli area of Tangshan is RMB 3,440, which is RMB 30 higher than yesterday.The 61.5% grade Australian PB iron ore powder price at Jingtang Port is 890 yuan, 20 yuan higher than yesterday.Tangshan area quasi - one - class metallurgical coke tax included to the factory price of 1860 yuan, flat compared with yesterday.