original title:[收盘评论]September 27th DCE market: the demand for replenishment before the holiday is slightly boosted iron oreStrong Futures Operation Source: Wenhua Finance
Some steel mills restocked their warehouses before the holiday, and the futures rebounded simultaneously. Yesterday, the spot quotations of imported mines and ports were collectively raised, and there was also a phased rebound on the disk. The main contract rose unilaterally to 700 points in the night trading on Friday, and the whole morning was today. Maintained high volatility, and finally closed up 3.53% to 703 yuan / ton.
Iron ore inventories in steel mills are at a low level, and it is expected that there will be a certain replenishment demand before the National Day. In addition, iron ore prices have fallen sharply and touched the mining costs of non-mainstream ore, and after a sharp drop in the previous period, the iron ore itself will also rebound to a certain extent. need. Last week, my steel net data showed that the total inventory of imported sintering powder from 64 steel plants increased slightly to 14.953 million tons this week, but the total daily consumption of sintering powder continued to drop to 521,200 tons.
The decline in daily consumption also reflects that domestic production pressure will continue to advance steadily. At this stage, energy consumption in many places has been double-controlled. Yunnan, Guizhou, Jiangsu, Anhui, and Shandong have all received production restriction notices. The production pressure will be completed in advance by the end of November. The consumption of iron ore has shrunk further.Last week’s steel co-production inventory data. The total steel output dropped by nearly 610,000 tons to 9,174,200 tons, which is the lowest level since April last year.RebarProduction fell sharply by 361,800 tons to 2,709,700 tons, which was almost at the lowest level over the same period in the past year, butHot rollThe output only dropped by 21,800 tons.
On the supply side, last week, the total iron ore shipped from Australia and Brazil was 26.887 million tons, an increase of 1.092 million tons from the previous month, which was at a two-and-a-half-month high. The lowest level since. However, according to market analysis, sea freight rates have risen sharply. When the price of ore arrives at the port of less than US$80, it will restrain the enthusiasm of overseas ore shipments. Guomao Futures reminded that as the center of gravity fell to US$90-110, it touched the cost line of some non-mainstream mines, and the dual control of energy consumption was mainly for electric furnaces, which relatively reduced the pressure on blast furnaces. To reduce the task, the short-term bearishness tends to weaken, so it is recommended to focus on rallies.
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