Tomorrow's steel price forecast-Hot Dipped Galvanized Steel Sheet--PPGI--PPGL.
With today's sharp drop in the stock market, weaker futures market, weak spot market, poor real estate sales, and many other factors, it has been down since the opening in the afternoon. Although it has risen during the session, the negative psychology has increased, and the overall late trading is still down.
Affected by the epidemic after the holiday, the overall demand is still reduced by supply and demand, and the increase is low. On the other hand, the decline in inventory has narrowed significantly. Although the total inventory is not high, it has not fallen sharply shortly, indicating that the epidemic's impact is limited and demand is more significant than supply. Furthermore, with the relaxation of real estate policies in various places, the market's expectations for steel prices are still reasonable. In addition, the price of raw materials is high, and there is cost support; some steel mills have been overhauled, the prices of overseas black products are high, and my country's exports are partially supported.
On the whole, tomorrow will be dominated by bottoming out.
