SM570 steel market price forecast on June 16

On June 15, the SM570 steel price rose slightly compared with the previous trading day. Yesterday, the trend of futures fluctuated downward, and merchants were cautious to wait and see,  focusing on shipments. Yesterday, the overall transaction of SM570 steel was average, and the demand was not clearly released. The end customers normally purchased SM570 steel on demand.

Some of the scarce SM570 steel specifications had marked price increases, and short-term recovery was still under pressure. In terms of resources, the current factory prices of steel mills are firm, the agent's enthusiasm for ordering is not high, and the pressure on the arrival of the market in the later period is relatively low, which still has certain support for SM570 steel market prices. On the whole, the current inventory pressure of market agents is not large. Under the premise of normal release of demand, it is expected that today's SM570 steel prices will fluctuate at a high level.