The central bank unexpectedly cut interest rates! Steel prices are going up!

 According to the announcement of the central bank, on November 5, 2019, the People's Bank of China conducted a medium-term loan facility (MLF) operation of 400 billion yuan, which was basically the same as the maturity of the day. The term was 1 year, and the winning bid rate was 3.25%, down 5 from the previous period. base point. Reverse repurchase operations are not carried out today.

‍Affected by the sudden "reduction of interest rates" by the central bank, today's futures quickly rose, and the spot price rose slightly.
The sharp rise in futures led to a stronger spot. The steady-state part of the rebar rose, and the Hot rolled steel coil  rose steadily, and the cold rolled steel plate was stable.
[Rebar] The price of rebar in 24 major markets nationwide has been raised.
[Hot rolled steel coil] The price of 4.75 hot rolled coils in 24 major markets nationwide was raised.
[cold rolled steel plate] The average price of 14-20mm Puzhong board in 23 major markets nationwide was lowered.

Hot Rolled Steel Strip