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Billet rose 80 in three days! Can the steel market rally continue?
【Time:2020-05-19 10:09】 【Traffic:

 The steel market trended strongly over the weekend, with billets soaring 70 and finished products up by 30-100. Now billets are up another 10, iron ore futures are almost at the daily limit, and futures closed up 75. After the fundamentals of the epidemic have been restored, the downstream operating rate has remained at about 85%. Recently, Tangshan ’s environmental protection has become stricter, and the two sessions will be held soon. The positive factors of market speculation have increased and the steel market has risen sharply. As the demand for billets in the market decreases, traders' shipments are gradually weakening, and the trend of finished materials is also stabilizing. It is expected that the short-term steel market will be adjusted mainly.

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