Steel Market Briefing on September 28th

Futures market
Main force of rebar: 3106, -5; Hot roll main force: 3282, -11
Main force of iron ore: 705, -6.5; Coke: 1952, -10.5; Coking coal: 1457.5, -36.5
The overall black market closed weak today, with a relatively large correction in coking coal prices. The market fluctuated before the holiday, and funds sought safety.
Spot reference
National mainstream thread spot 3170-3240; Hot coil 3300-3360; Cold rolling operation with slight weakness
Tangshan ordinary carbon billet costs 3000 yuan, with average daily transactions; The prices of building materials in various regions have fluctuated, with some cities slightly lowering their prices.
Transaction supply and demand
As the National Day holiday approaches, downstream terminals are mainly focused on acquiring goods for immediate needs, and their willingness to proactively replenish inventory is not strong; Traders have pre holiday hedging and shipping operations; The steel plant still maintains a certain level of production control, and there is currently no significant accumulation of social inventory; The market's wait-and-see sentiment has intensified.