Today, the market price of stainless steel pipes has weakened, and the price focus is further moved down. The spot of raw materials such as billets has also been weakened. The overall market is weak, and the transaction conditions are average. Some building material steel mills have begun to reduce the price of the factory. The current trade has a certain amount of shipments.
The current stainless steel pipe market is on the switching of strong and weak channels. The market continues to call back. The two markets of futures and spot are weakly running. The spot rhythm of stainless steel pipes is still slower than futures. At present, the market differences are relatively large, which is optimistic about the market outlook and the view that it is currently building a bear market. In a short period of time, the current atmosphere is average. With the long -term shipment of futures, the main relocation of the position, and the contradiction between the supply and demand of spot supply and demand, the risk of overseas is greater. There are concerns about the overall industrial products, resulting in a short -term callback of the stainless steel pipe period. But how much is the space back? You need to look at several dimensions.
From the perspective of the driver, the core of the problem is not the fundamental aspect, the output and demand have not been topped, but the growth rate of output is also slowing down, the demand is strong, and the infrastructure is further accelerated in the south. The sales indicators should be better than market expectations. In this case, there are not much problems with contradictions and mismatches of supply and demand. The inventory still maintains a good destination state, and does not reflect the contradictions of supply and demand. On the market is the macro -funded positioning and departure, and the raw materials are already in a stagnation period. The raw materials can no longer be pushed upward, which weakens the kinetic energy of the stainless steel pipe upward, combined with overseas risks, and the normal callback is taken.
From the perspective of valuation, even if the electric furnace has just resumed the increase in profit and increased, the disk is already undergoing water. Compared with the iron ore, it is not at a high valuation. Therefore, stainless steel pipes do not have the conditions for continuous shorting.
From the perspective of overseas markets, Credit Suisse was continued to ferment by the 40 % off acquisition of UBS. Creditzer plunged more than 50%! At 17.2 billion US dollars AT1 bonds "zero overnight", 9.9%of the shares held by the State Bank of Saudi, the largest shareholder of Switzerland, directly shrinking, losing about 1 billion US dollars. Although the European and American banks have limited impact impact, the pain period has not passed, and the Federal Reserve ’s interest rate hike impact will still be paid attention to, and international crude oil and industrial products have not yet rebounded, which at least shows that it has not returned to the strong operation. The current stainless steel pipe market is important in the stage of risk prevention, and it is not advisable to continue to add leverage to continue to expand.
