Today's hot spot
Today's black commodity futures rebounded after a low shock, with finished steel contracts up a large increase, followed by a double-joy contract and an iron ore contract. In terms of positions, the black series collectively reduced their positions, and the period of the snails reduced the positions by more than 60,000. Taking the snail as an example, the long and short battles around 3600 are fiercely contested. Today, affected by the fundamental data, the bears took the initiative to lighten up their positions, and they closed above 3600. There is still room for upside in the short term. In terms of spot, the price of today's varieties is still weakly weak. Taking the spot of rebar as an example, the market transactions in the early trading markets were relatively weak, and the prices fell slightly. In the intraday and afternoon, the transactions gradually recovered, and most of the regions stopped falling and stabilized, and some regions even appeared. A small rebound. However, social inventories still fell sharply, while steel mills' inventories increased slightly, indicating that steel mills are reluctant to sell due to low inventory, and shipment enthusiasm is obviously insufficient. Tomorrow, East China's leading steel mills will introduce a mid-price policy. The market is generally expected to rise slightly, or form a clear support for prices. It is expected that domestic steel prices will stabilize in the short-term, or the shock will be strong.
Macro hotspot
1. [Shanghai crude oil futures rose 4.5%, continuing to hit a new high] Crude oil futures closed up 4.5%, hitting a new high since listing and closing the biggest intraday gain since listing; Zheng coal, palm rose more than 1%, hot coil, asphalt , rubber, soybean meal, coking coal, thread, Huxi, eggs, Shanghai silver, Zheng alcohol, rapeseed, Shanghai copper, corn, Shanghai lead, coke, Shanghai zinc, Shanghai gold, etc. closed up. Ferrosilicon and manganese silicon closed down more than 1%, and plastics, glass, iron ore, Shanghai nickel, white sugar and Shanghai aluminum fell.
2. [The index will rebound in the afternoon, and the Guangdong, Hong Kong and Macau Dawan District will strengthen across the board]
The Shanghai Composite Index closed at 3,174.41 points, up 0.48%, with a turnover of 165.4 billion.
The Shenzhen Component Index closed at 10,729.77 points, up 0.38%, with a turnover of 247.3 billion.
The GEM closed at 1,865.36 points, up 0.51%, with a turnover of 90.3 billion.
3. [Affected by the decline in vegetable prices, China's April CPI rose by 1.8% year-on-year, lower than the expected 1.9% and the previous value of 2.1%. China's April PPI rose 3.4% year-on-year. 】
4. The Ministry of Commerce responded that China was invited to send a delegation to the United States for economic and trade consultations. The spokesman of the Ministry of Commerce said at a press conference held on the 10th that we hope that China and the United States can work together under the guidance of the two heads of state. Based on the principle of mutual respect and equal consultation, we will continue to communicate in depth, earnestly strengthen pragmatic cooperation, properly manage differences, and jointly promote the healthy and stable development of China-US economic and trade relations.
Market today
Raw material
Billet: The price of the national billet market is weakening. Today, Shanxi steel slabs fell 40 yuan / ton, Jiangsu steel slabs fell 20 yuan / ton, other areas temporarily stabilized. Today, Tangshan billet straight transactions are general, warehousing stock around 3610 including tax out of the warehouse, some low-cost resources have been sold, high-priced shipments are blocked, downstream finished parts of some low-cost resources shipments increase, the overall transaction is general, the steel billet is stable after the afternoon. Today, Shandong steel billet is stable, Q235 billet factory 3670-3680 yuan / ton, steel mills to single order production, high prices, today's transaction is weak, a small amount of resources into Jiangsu.
Domestic mines: The market for domestically produced main producing areas in China has risen slightly, while prices in North China, Northeast China and South China have temporarily stabilized; prices in Fanchang, Tongling and Qijiang in East China have risen by RMB 10/ton. Specifically, North China-Tangshan 66% dry-based tax-included cash factory 625-635 yuan / ton, moved to the West 66% dry-based tax-included cash out of 610-620 yuan / ton, Qian'an 66% dry basis tax-included cash factory 635-645 yuan / ton; Zunhua 66% dry basis tax-included cash factory 610-620 yuan / ton.
Imported mines: The price of early traders in the imported ore market was basically the same as yesterday's, and only some varieties were lowered by 5 yuan/ton. However, due to the continuous diving of iron in the afternoon, the steel mills have lower purchasing intentions, mainly relying on wait-and-see, some steels with demand. The factory has a clear price in the real market. In the afternoon, although the iron plate has warmed up, but the steel mill buying price has not increased, some steel mills said that if the spot price is still deadlocked, it will choose to compress the inventory and postpone the procurement plan.
Steel spot
Construction steel: Today's domestic construction steel prices are weakly adjusted. According to the specific price, the average price of 25 major cities nationwide was 4116 yuan/ton, which was 21 yuan/ton lower than that of the previous trading day. The declines in East China, Central China and Southwest China were narrowed; the prices in South China, Northeast China and Northwest China were slightly smaller. Weak, the decline is 10-20 yuan / ton. In terms of specific markets, the spot market performance in the past two days was sluggish. Most of the merchants' prices continued to decline in the early session, and the decline was narrowed. In the late afternoon, the snails went strong, the spot market transactions rebounded, and the prices of individual merchants rebounded slightly. At present, social inventories continue to decline, coupled with the strength of futures, business confidence has recovered, it is expected that domestic construction steel will stabilize and run stronger tomorrow.
Hot-rolled coil: Today, the hot rolling price of 24 major cities in the country is consolidating. The average price of 3.0 hot-rolled coils is 4235 yuan/ton, which is 7 yuan/ton lower than the previous trading day. The average national price of 4.75 hot-rolled coils is 4178. Yuan/ton, down 8 yuan/ton from the previous trading day. Today's futures market rose slightly, the market sentiment improved slightly, merchants' prices remained stable, and some cities fell slightly. According to the statistics of this website, the national hot-rolled inventory this week was 2,120,200 tons, down by 74,900 tons from last week. The increase of inventory resources in the short term is limited. This has certain support for the price, but the demand is also difficult to release obviously, and the market price is rising. Not enough. In addition, today's billet market price is stable, and the current price of carbon billet is 3,550 yuan / ton. On the whole, it is expected that the price of the hot-rolled market will fluctuate tomorrow.
Plate: Today, the domestic plate market price fell slightly, the average price of 20mm medium and heavy plate in 23 major cities nationwide was 4,388 yuan / ton, down 13 yuan / ton from the previous trading day. Today's market as a whole continued to decline in a steady and small trend, merchants are still mainly shipping, low-cost resources are still acceptable. At present, there are relatively few market inventory resources, and the business mentality is relatively optimistic, and they are not willing to sell too low. In terms of steel mills, today Baosteel introduced futures prices in June, and the base price of heavy plates was raised by 150 yuan/ton. The order price of steel mills in East China is still high, which has certain support for market prices. In addition, today's billet market price is stable, and the current price of carbon billet is 3,550 yuan / ton. On the whole, it is expected that the price of the plate market will fluctuate tomorrow.
Cold rolling: Today's national cold rolling prices have been lowered slightly. Price: 1.0 national cold rolling average price of 4630 yuan / ton, compared with the previous working day price fell 6 yuan / ton. The main market price: Shanghai market 1.0mm WISCO coil plate offer 4550 yuan / ton, Guangzhou market 1.0mm anang steel coil offer 4620 yuan / ton, Tianjin market 1.0mm anang steel coil offer 4430 yuan / ton. Market: Shanghai market price has been slightly reduced today, the market is difficult to deal with high prices, 2.0mm resources are too much, and merchants are not well shipped. The rest of the market has weak feedback demand, the resources are not in good condition, and some specifications are out of stock. Inventory: This week, the national sample cold rolling inventory was 1,120,500 tons, a decrease of 19,700 tons from last week, and the inventory decreased for three consecutive weeks. Overall, the market inventories fell, some of the best-selling specifications were out of stock, and the cold-rolled prices were weakly consolidating tomorrow.
Profile: Today's domestic steel prices are weak and consolidating, market quotations are more cautious, and operations are mostly based on consolidation. Specifically, the Tangshan steel market dropped 20-40 yuan/ton in the morning, the overall discount in the plate increased, and the low-cost transactions in the work tanks were smooth. At present, due to the inventory pressure, the steel mills have a strong willingness to make profits, and the low-cost resources are smooth. Downstream merchants staged replenishment. According to feedback from steel mills and traders, most of the planned orders recently. In the afternoon, the turnover of steel sections was still smooth, and the prices of most steel mills rose by 10-20 yuan/ton. The price of East China profiles was weak and consolidating. Although the price of billet stabilized and the electronic market rebounded in the afternoon, the cash flow of the market did not decrease. Therefore, the quotation was still cautious, and the market turnover improved slightly in the afternoon. The price of South China profiles has not changed much, and the merchants' prices are mostly stable. However, the continuous rainfall weather, the shipment situation is not ideal, and the actual transaction is slightly dark. However, in the case of limited short-term new resources, the price is unlikely to fall significantly. On the whole, the market operation expectation at this stage is still biased towards consolidation and shipment. Therefore, it is difficult to adjust the spot price in the short term. It is expected that the price will remain consolidated and wait and see tomorrow.
Steel pipe: Today, the price of domestic steel pipe has been different, the welded pipe and galvanized pipe have declined, and the seamless pipe is still stable. According to the variety: the average price of welded pipe 4 inch * 3.75mm is 4403 yuan / ton, down 18 yuan / ton from the previous trading day; galvanized pipe 4 inch * 3.75mm national average price 5257 yuan / ton, compared with the previous transaction The daily drop was 14 yuan / ton; the seamless pipe Ф 108 * 4.5mm national average price 5259 yuan / ton, compared with the previous trading day. In terms of pipe factory, Tianjin Youfa and Juncheng ex-factory prices were lowered by RMB 30/ton, Tianjin Lida was lowered by RMB 60/ton, and Linyi mainstream seamless pipe factory was offering hot-rolling price of RMB 4,750-4,850/ton. In terms of welded pipes and galvanized pipes, market transactions are generally general, and rainfall occurs in parts of the south, which has a greater impact on shipments. In terms of seamless pipes, the market transactions were poor, and traders were more likely to replenish the warehouses as needed. It is expected that the market price of steel pipe will be adjusted and operated in the future.
Futures: Today, domestic black commodity futures rebounded slightly. Except for iron ore stagflation, the other varieties all rose slightly, and the transaction volume decreased. Specifically, according to the national rebar inventory released by mysteel on the 10th, the decline rate of social inventory still maintains a high level, which forms a certain support for the price of finished products. On the other hand, environmental protection affects the production of Xuzhou and other places, resulting in the release of supply. Slowdown, the current resumption of production is still slower than expected, the short-term formation will be positive, and the market still has upside. From the point of view of the Snail Day K, today's thread receives a small Yangxian line, and after 5 consecutive yin, it ushered in the first shrinkage rebound. In the short-term, it can observe whether the thread can stabilize and go up. Operate the above suggestions, and stabilize the bargain-hunting and pay attention to the position.
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