Black futures plummeted! What’s wrong with the market? Will it last?

Black futures plummeted! What’s wrong with the market? Will it last?

The start of April was unfavorable, and the steel market was mainly declined. April 3 is the first trading day in April, and the market decline is beyond market expectations.
(To learn more about the impact of specific steel products, such as Abrasion Resistant Steel Plate, you can feel free to contact us)
The logic of the market decline is mainly from three aspects: the first is the forecast of negative feedback of raw materials; secondly, there is a greater consensus on the market’s weakened demand; the third is that the policy continues to suppress the raw materials such as iron ore. However, panic has helped today, and the decline in the decline in the ingredients exceeded the iron ore status, and there are certain oversold components. However, the negative feedback of raw materials has caused the cost of steel to move down, and has formed a small -scale consensus in the market. Regardless of whether it will continue to introduce new price control policies, but the current situation needs to be seen whether the demand of the material has really reached the top to verify the conversion of iron water to the top and the output of the material.
(If you want to know more about the industry news on Ar360 Abrasion Resistant Steel Plate, you can contact us at any time)
From the perspective of needs, the March Caixin China Manufacturing Purchasing Manager Index (PMI) released by Caixin today recorded 50.0, a decrease of 1.6 percentage points from February, which was lower than the market expectations of 51.7. Because Caixin data covers a lot of SME samples and more private enterprises, it shows that the pressure on recovery is still not small. And the decline in the new order index of manufacturing will also be reflected in the needs of raw materials. The market’s demand for April generally believes that the incremental space is limited, but instead throw goods in advance.
(If you want to get the price of specific steel products, such as Abrasion Resistant Plate, you can contact us for quotation at any time)
Judging from the current market operation, today’s decline is relatively large. In particular, the maintenance of steel mills and the current market is being shipped in the market. However, there are still low -cost procurement and replenishment. At the same time, a few areas still have bottom -up behavior, and the speed of decline may slow down.