The external market was affected by news related to "Biden announced that the two parties in the United States reached an agreement on infrastructure issues". U.S. stocks rose collectively. U.S. Steel rose more than 3%. Domestic steel futures rose during the night trading. The spot market for stainless steel welded pipes continued to rise. Follow the rise, but the gains are limited.
U.S. reaches $579 billion in infrastructure agreement
According to related news, U.S. President Biden and Democratic and Republican senators reached a preliminary agreement on a US$579 billion infrastructure spending plan. The White House stated that the bill will provide funding for a series of projects, including the largest investment in the public transportation system. . After the news was released, European and American stock markets rose collectively, and stainless steel welded pipe and infrastructure sectors strengthened one after another. US Steel rose more than 3%, boosting domestic futures. The price of stainless steel welded pipe was supported.
The central bank has continuously invested 40 billion yuan in net
Following yesterday’s central bank’s net investment of 20 billion yuan, the central bank continued to carry out a 7-day reverse repurchase operation of 30 billion yuan today. As a 10 billion yuan reverse repurchase expires today, a net investment of 20 billion yuan has been achieved. This week, the central bank has continued net investment 40 billion yuan. The central bank maintains the stability of market funds by injecting short-term liquidity, and also helps hedge against the tightening effect of bond issuance. Alleviate the financial pressure on the stainless steel welded pipe market, and the macro is warmer.
Pressure to ensure coal supply is gradually increasing
The China Coal Transportation and Marketing Association recently held a coal economic operation analysis symposium in Xuzhou and stated that the pressure of companies to maintain supply and stabilize prices is gradually increasing, and it urgently needs strong policy support at the national level. In fact, the market has recently reported that coal in many places in Shanxi, Shaanxi is in short supply, and coal stocks have dropped to a low level in recent years. With the tightening of safety production during "July 1st", the tight supply of stainless steel welded pipes is difficult to improve in the short term. Or it will last until mid-July. The relative strength of the raw materials will also support the prices of finished products.
The trading volume of building materials continues to be low
The daily trading volume of building materials this week was below 200,000 tons, and continued to stay at a low level. The overall transaction in the stainless steel welded pipe market was not smooth. Traders mainly shipped goods and downstream on-demand purchases. The price of stainless steel welded pipes was weak.
To sum up, affected by external factors, the futures market has strengthened as a whole, and the spot quotations of stainless steel welded pipes have risen slightly, but the market transactions have been sluggish. Funds are limited near the end of the month. Merchants will mainly ship and the price will still be weak. It is expected that stainless steel welded pipes will be able to rise at the weekend. Prices have risen steadily.
