Newsletter summary

The current price of Wuhan building materials market is stable and weakening.HowlingwolvesmegawaysThread base price range of 3540-3620 yuan; spot demand continues to weakenHowlingwolvesmegaways13 sample traders shipped 8110 tons; prices are expected to fluctuate slightly tomorrow, and demand for the project may be guaranteed in the later period.

Text of news flash

[Wuhan building materials market price fluctuation demand is not good and the price is expected to continue to decline tomorrow] Today, the building materials price in Wuhan market shows a slight weak adjustment on the basis of stability, among which the base price of E steel thread closes between 3540 yuan and 3620 yuan. In today's trading, prices remained stable in the morning, but prices fell in the afternoon, while market prices remained slightly weak and stable in the afternoon. In the futures market, the closing price of the main contract was 3641 yuan, down 31 yuan or 0% from the previous trading day.Howlingwolvesmegaways.84%; the closing price of the main contract for iron ore fell by 1% to 849 yuanHowlingwolvesmegaways.91%; the closing price of the main coke contract was 2263 yuan, a decrease of 1.8%. In terms of the spot market, a survey of 13 sample traders in Wuhan shows that these traders shipped a total of 8110 tons today, a decrease of 1700 tons compared with the previous trading day. The transaction demand is still dominated by terminal procurement, but the long-awaited phenomenon of pre-holiday stock has not appeared. For tomorrow's market, most traders hold a weak expectation. Among them, one trader said that due to poor demand, it was not clear how the sales plan would proceed; another trader thought that prices might fall slightly tomorrow, and the demand situation felt as deserted as a holiday shutdown. Several other traders also said they took a cautious and weak view of tomorrow's market. It is worth noting that the National Development and Reform Commission and the Ministry of Finance have completed the selection of local government special bond projects in 2024. The demand for special bonds in 2024 is about 5.9 trillion yuan, involving about 38000 projects. This year, local government special bonds are expected to issue 3.9 trillion yuan. In order to speed up the construction of the project and the use of funds, the relevant departments are actively promoting the expansion of effective investment. This means that the demand of the project will be guaranteed to a certain extent in the future. To sum up, it is expected that the spot price in Wuhan market may fluctuate slightly tomorrow.