The building materials trend slightly loose

In the market, the price of billet in Tangshan area was lowered again yesterday, coupled with the lack of downstream demand. The business mentality weakened and market quotations showed signs of weakness. However, the quotation of the very tight specifications in the market is still relatively strong. The recent major steel mills shipments are still rampant, and the market’s enthusiasm for resource speculation has dropped significantly. If there is no good news to boost the steel market in the later period, spot prices will be weaker.

In terms of costs, yesterday, the ex-factory price of billet in Tangshan fell by RMB 20/t, and the current ex-factory price was RMB 2,990/t; while the offer price of 63.5% of Indian ore was kept unchanged at a price of US$135.75/t.

In terms of news, the central bank will not open market operations today, and this week, a net return of 15 billion yuan; the country’s fiscal revenue in the first 10 months of more than 11 trillion yuan has increased by 9.4% year-on-year; from January to October this year, the national railway freight revenue has completed 219.395 billion yuan. , an increase of 27.835 billion yuan over the same period of last year, an increase of 14.5%, rail freight volume increased for the fifth consecutive month; port supply tight "boat and other coal" phenomenon is becoming increasingly serious; steel traders call for demand as the core row of rebar specifications.

Yesterday's steel shocks fell, spot transactions were light, and wait-and-see sentiment aggravated. It is expected that today's business offer will be slightly loose.