Black Futures Are Red Across The Board, And The Decline in Steel Prices Slows

On November 30, the price decline in the domestic steel market narrowed, and Tangshan Pu’s billet held steady at RMB 4,290/ton. In the early trading, the futures market was weak and fluctuating, and it did not rise until the end of the trading session. The market trading sentiment was more cautious.

On the 30th, the black futures products fluctuated and rose. The main force of the snail futures closed at 4163, up 0.85% from the previous trading day. DIF and DEA were in both directions. The RSI third-line indicator was at 46-55, running between the Bollinger band middle track and the upper track.

On the 30th, four steel mills across the country lowered the ex-factory price of construction steel by 30 yuan/ton, and one steel plant raised the ex-factory price by 20 yuan/ton.

In the short term, near the end of the month, the emergency warning of heavy pollution weather will be lifted in Tangshan area, and the performance of some D-level steel companies will be adjusted to C-level. Supply may rebound, but market demand is difficult to increase, and raw material prices are still under downward pressure. Insufficient cost support. It is expected that the domestic steel prices will still fluctuate within a narrow range tomorrow.