Port inventory depletion supports iron ore’s strong shock_Sina Finance_Sina.com

Source: Jinxin Futures Author: Jinxin Futures

Research report text

【iron orestone】

Iron ore fluctuated strongly overnight, and the bulls increased their positions slightly, closing at 792.5 yuan/ton, an increase of 1.60%. There is not much contradiction in its fundamentals, but the qualitative logic of following the thread remains unchanged, but it is more flexible. The resumption of production of blast furnaces in some steel mills has led to an increase in molten iron production, combined with the impact of the epidemic and rainy and snowy weather, steel mills’ demand for inventory and replenishment, daily consumption and port evacuation volume have risen sharply, and port inventory has been depleted, supporting strong fluctuations in ore prices; The latest data this week shows that overseas shipments have increased significantly, and the actual supply is still increasing; the strategy suggests gradually reducing positions for long orders.

【Rebar】

The thread fluctuated strongly overnight, closing at 3829 yuan/ton, an increase of 0.68%; at the daily level, the thread rebounded to near the previous pressure level, and closed the upper shadow line; fundamentally, it is still a situation of weak supply and demand. And with the recent sharp drop in temperature, the release of terminal demand has been hindered. At the same time, the spread of the epidemic in many parts of the country has been tightened, which has a greater impact on logistics and downstream construction. Slowdown; however, Shanghai, Beijing, Guangzhou and other cities have issued relevant measures to optimize and adjust epidemic prevention and control, and domestic control policies have been gradually relaxed. Actively introduce favorable macro policies to consolidate the economic stability and upward foundation; under the weak reality and strong expectations, it is recommended to gradually lighten up positions after buying and selling.

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