EuropesteelBig traders buy the bargains and eat the goods,Sinosteel(2002) Taking urgent orders. It is reported in the steel market that Sinosteel has received a large urgent order from a European customer. However, Sinosteel believes that the customer’s order has strong implications for “buying the lowest price”, so it is only willing to cut half of the order and successfully increase the quotation. The industry believes that this will have a negative impact on the steel industry. This is a positive sign for the market.
After verification, Sinosteel disclosed yesterday (19th) that European buyers recently requested 40,000 metric tons of hot-rolled steel coils from Sinosteel, but Sinosteel was unwilling to sell more after evaluation, so it only offered 20,000 metric tons, highlighting the promising market outlook. , especially in mainland China, the volume reduction has achieved results. The market’s low-price transactions have rapidly settled and tilted towards a seller’s market. The situation is favorable to steel mills. It is expected that the market will be clearer in the first quarter of next year.
The legal person said that as China Steel raised its steel quotation, and the steel market in the United States, Europe, mainland and other places rose, the steel market revived to attract buying. Last Wednesday (15th), foreign investment exceeded China Steel in a single day and once jumped 1.9%. Ten thousand pieces, the shareholding level of the three major legal persons has returned to a relatively high point.
Directors of listed steel mills pointed out that the attitude of buyers has become more positive after the recovery of the international steel market. It is reported that Sinosteel’s subsidiary China Trade has received a large urgent order from a European customer, about 40,000 metric tons. Generally speaking, the order An order of tens of thousands of metric tons can be considered a large order. If the sluggish situation in the third quarter of this year is followed, Sinosteel will usually take it and ship it directly.
However, at present, Sinosteel believes that seeing steel prices rebounding from lows, overseas customers have a strong sense of “buying the bottom” and placing orders. They want to take advantage of the low price. After a comprehensive evaluation, Sinosteel is only willing to cut the order by half. “The customer wants 40,000, 20,000” and successfully raised the offer. In other words, China Steel has begun to select more favorable orders before trading, which is a strong positive signal for the steel market.
Huang Jianzhi, executive vice president of Sinosteel, confirmed that due to expectations for the market outlook, a steady and steady order-taking strategy can now be adopted. The number of orders does not need to be too large at one time. The number of orders should be halved first. If the price can be raised appropriately in the future, then negotiations can be accepted by customers. The degree will also become higher.
Huang Jianzhi pointed out that when the market was in a downturn in the previous wave, we focused on sales volume, but now we can slow down the pace and apply the brakes slightly to select good orders. As for the outlook for the market outlook next year, I dare not say that I am completely optimistic about it, but the Asian market has been dull for a long time, and the reduction in mainland China has indeed paid off. The Chinese community will have the Spring Festival holiday early next year, and the European and American markets will be in full swing after New Year’s Day. It is expected that the visibility of the international steel market will be higher.
Directors of listed steel mills said that overseas steel quotations from the United States, Europe, Southeast Asia and mainland China continue to rise. The market is recovering and upward. Many overseas buyers are still responding conservatively. Not many are willing to boldly build inventory levels. They look forward to adjusting to market conditions. Strengthening, the steel market in the first quarter of next year will get rid of the gloom and take advantage of the trend to connect with the traditional peak season in the second quarter.
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