Yesterday, the spot market saw numerous price reductions, ranging from 15 to 50 yuan/ton. Downstream terminal transactions, which tended to be market-making, drove an increase in pre-emptive risk-avoidance transactions by traders. This significantly expanded the sample size for price discovery in the spot market, and the magnitude and frequency of quote adjustments are expected to increase.
In the short term, due to factors such as the GAC incident in Guinea, transportation restrictions for the domestic military parade, and temporary production cuts, investor sentiment is volatile, and there is still room for market volatility driven by sentiment.
（Chinese version）
（English version）
