Steel forward price "clone" rebar price trend

With the continuous expansion of the volume of steel futures, the trend of the forward steel electronic market and the steel price trend has become increasingly “tacky,” and the relevance has gradually increased.
Yesterday, rebar futures prices ushered in the first major correction after the Golden Week, the main 1001 contract closed at 3865 yuan / ton, compared with the previous day settlement fell 113 yuan. The spot thread price did not fall after the same day, and the Shanghai spot three-tier rebar offer rose by 60 yuan to 3,710 yuan/ton.
However, what surprised investors was that the forward market price of the 1001 contract for the hot steel plate of the Shanghai Azuma Iron & Steel Electronic Trading Platform fell synchronously with the rebar futures, and moved from before the midday break to the afternoon sideways, and the futures trend. same. Yang Xiaohua, deputy general manager of Shanghai Shigang Industry Co., Ltd., said that in the past, the spot price followed the bulk of the electronic trading. Today, electronic trading is often followed by futures. Although there are sometimes some deviations, they usually follow the broader market.
In fact, since the listing of steel futures, the reversal of the prices of rebar futures and forward coil prices is not uncommon. In the start-up of some of the larger markets, there seems to be a time lag between the two. For example, in the wake of the wave of steel prices after the National Day, rebar futures prices took the lead on October 12th, while the price of long-term electronic coils only officially bottomed out on October 14th. With the rising state. A trader who has been engaged in the long-term transaction of steel products said: "The difference in start-up time has brought about cross-variety arbitrage opportunities between forward electronic futures and futures threads."

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