Fundamental support weakens, rebar short-term trend fluctuates repeatedly Thread_Sina Finance_Sina.com

Source: Cinda Futures Author: Cinda Futures

Strategic advice:

【Steel】

Thread RB2301 had a shock run yesterday, opening at 3660, rising at 3704, falling at 3652, and closing at 3676. On the technical side, it went flat on the 20th, went up on the 10th, turned down on the 5th, MA5>MA10>MA20. Spot market, generally down. Shanghai thread 01 basis weakened to 79 yuan / ton (-34), RB1-5 to 82 yuan / ton.

At the industrial level, yarn supply and demand have both decreased, and total inventory has continued to be depleted but at a slower rate. Yarn production has decreased for three consecutive weeks, apparent demand has decreased for two consecutive weeks, and total inventory has decreased for six consecutive weeks, but the pace of inventory reduction has slowed slightly the this week. In terms of technology, blast furnaces continue to reduce production, electric furnaces continue to resume production, and the direct profit of production is all below the profit and loss line. At 11.24, the daily trading volume of building materials was 128,000 tonnes, which was average.

Overall, yarn supply and demand has decreased, and total inventory has been eliminated but the pace has slowed. Fundamental support weakened, and the market returned to calm. The minutes of last night’s Federal Reserve meeting were tame, which once again boosted market sentiment. The long-short game is intensifying, the thread valuation is neutral, and the short-term trend fluctuates repeatedly.

1. Supply and demand

2. Inventory

3. spot price

4. Profit

5. Compare prices

【iron ore】

The main force of iron ore I2301 rebounded slightly, opened at 723.5, tested 736.5, declined 714.0, and closed at 722.5. On the technical side, the head turned down on the 5th, and both went up on the 10th and 20th, MA5>MA10>MA20. In the external market, as of press time, Singapore’s main FE iron ore chain reported 95.00, with a range of -0.37%.

At the industry level, overseas shipments from Australia and Pakistan increased to a month-on-month high, while iron ore volumes at domestic ports fell month-on-month, and port evacuations fell slightly. The operating rate of downstream blast furnaces has continued to decline, the average daily molten iron production has continued to decline, and the demand for raw materials has weakened. In terms of inventory, iron ore port inventory increased, while steel mill inventory continued to be low and declining.

Overall, the industry is driven down, market sentiment is down, and iron ore is weakly adjusted.

1. Supply and demand

2. Inventory

3. Spot stock and price comparison

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