Price drop reasonably & future market tend to stable/Review of April long products market and prospects for May

摘要

Domestic long products market price began to move downwards in April after consecutive 3 months of rising thanks to the series macro-control and regulation control measures. Antaike holds that the phenomenon in Ql is mainly a result of artificial operation. The price jump in March is caused by the 71.5 percent iron ore-price hike. Thus a reasonable drop-back of long products prices occurred in April and we forecast a stable future market will appeared. In International market, long products prices tendency changed delicately. Despite a stable CRU price index, the market price still face large pressure. Currently, the demand of long products In international market Is soft the stockpile is fairly high and market supply is surplus. Antaike considers that these three elements will cause further collapse of International long products market prices.