original title:[收盘评论]SHFE market on September 16th: Steel futures rose and fell, spot prices closed slightly. Source: Wenhua Finance
Steel futures continued their rally in the early trading, but fell under pressure in the afternoon.Hot rollThe intraday gains all narrowed to less than 1%, and closed at the Changyin small entity K-line, the transaction shrank, and the holdings also decreased to a certain extent.In terms of spot, Shanghai Level 3RebarThe price rose by RMB 70 to RMB 5,610/ton, the price of hot coils in Shanghai rose by RMB 30 to RMB 5,800/ton, and the price of billet in Tangshan rose to RMB 5,240/ton.
Recently, there has been continuous energy consumption dual-control information fermentation, steel mills have strict production limits, and market confidence has been boosted. In August, the National Development and Reform Commission issued a red light on the “dual control” of energy consumption in 9 regions across the country. Jiangsu Province is also among them. Reduce energy consumption tasks. Jiangsu Steel Plant reduced production from September 10th to October 15th. It is estimated that the output of construction steel will be reduced by 2.3-2.4 million tons compared with the normal level.
Yesterday’s economic data showed that under the influence of many factors such as the three red lines, the pressure of real estate credit concentration, non-standard supervision, and the difficulty of real estate companies’ debt issuance, real estate companies’ external financing is limited, and real estate sales have also begun to fall, so there has been a significant increase. Real estate companies’ acquisition of land and new construction have also decreased. From the issuance of special bonds to the start of construction of infrastructure projects, it will take some time, and infrastructure investment has not improved. The terminal demand for steel is not ideal, but it is basically in line with market expectations. Therefore, after the release of the data, the risk appetite has shown a rebound trend.
According to the data from the Steel Federation, the total steel consumption this week dropped by 537,500 tons from last week to 10.168,500 tons, basically supporting the fact that the demand has not yet entered the peak season. However, the total inventory of the five major steel products in the country fell by 385,200 tons, or 1.9%, to 19,854,800 tons, which has fallen for six consecutive weeks, but not as much as last week’s decline of 553,100 tons. Total steel production dropped sharply this week by 399,600 tons, or 3.64%, to 9,783,300 tons, falling below 10 million tons again after a lapse of 17 months.
In addition, the stock market plummeted today, and the black department was affected to a certain extent. China World Trade Futures’ comments reminded that the downward pressure on the economy and the country’s suppression of real estate still show that the demand for materials cannot give an excessively high valuation. The current rebound is more based on phased improvements in supply and demand. Therefore, the rhythm of this round of rebound may be reflected in repetitions. , Rolling long on dips or a relatively safe strategy.
Massive information, accurate interpretation, all in Sina Finance APP
Editor in charge: Chen Xiulong
.