News summary
Rebar prices rose slightly and are expected to be more volatilepowerballsaturday; Iron ore futures prices rose, and inventories fell slightly; the coking coal market fluctuated within a narrow range, supply disrupted, and demand waited and waited.
Newsletter text
[The daily trading volume of rebar is stable, and market bullish expectations strengthen] The rebar futures market showed strong shocks yesterday. The closing price of the 2410 contract was 376 yuan/ton, up 11 yuan/ton from the previous trading day, recording an increase of 0.powerballsaturday.29%, and the number of positions decreased by 4,200 lots. The spot market remained stable and transaction volume declined. The price of Qian 'an Pu billet in Tangshan remained at 3520 yuan/ton, the price of Zhongtian thread in the Hangzhou market continued to remain at 3650 yuan/ton, and the national building materials transaction volume was 134,000 tons. Data from the National Bureau of Statistics pointed out that China's steel bar production in April was 16.343 million tons, a year-on-year decrease of 21.7%. The total output from January to April was 66.306 million tons, a year-on-year decrease of 12.8%. With the easing policies in the real estate market and the issuance of long-term treasury bonds, market demand is expected to be bullish, and the rebar market is expected to show a volatile and strong trend in the near future.
[Iron ore futures prices continue to rise, and market attention increases] The iron ore futures i2409 contract price continued to rise, closing at 908 yuan/ton, an increase of 13.5 yuan/ton compared with the previous trading day, an increase of 1.51%, and positions increased by 4813 lots. Port spot prices also rose. The price of PB powder in Rizhao Port was increased by 9 yuan/ton to 894 yuan/ton, the price of ultra-special powder increased by 5 yuan/ton to 738 yuan/ton, and the transaction volume of iron ore in main ports nationwide increased to 913,000 tons, a month-on-month increase of 7.03%. Data from the National Bureau of Statistics show that China's iron ore output in April was 87.904 million tons, a year-on-year increase of 11.5%. The cumulative output from January to April was 368.87 million tons, a year-on-year increase of 14.0%. Statistics from Mysteel show that the latest total imported iron ore inventories in China's 45 ports decreased by 120,000 tons to 147.40 million tons, and the total inventory of 47 ports decreased by 150,000 tons to 153.72 million tons. Taking into account the double increase in supply and demand and the slight decline in inventories, as well as the continued easing of real estate policies, the market expects iron ore prices to remain volatile and strong in the short term.
[Coking coal prices fluctuate within a narrow range, and market supply is limited] The coking coal futures market showed a narrow range of shocks yesterday. The closing price of the 2409 contract fell 6.5 yuan/ton to 1,736.5 yuan/ton, a decrease of 0.37%, but the number of positions increased by 1265 lots. In the spot market, the transaction price of low-sulfur main coking coal in Luliang was reported at 1960 yuan/ton, while the imported coking coal market in Mongolia weakened. On the supply side, the coal mine accident in Heilongjiang Province has disrupted the supply side, limiting the growth of coking coal supply. With the first round of decline in the coke market, the demand in the downstream market is cautious, the profits of coke companies have been compressed, and the increase in production has been limited. The pace of coking coal procurement has slowed down, and the market is mainly wait-and-see. It is expected that the domestic coking coal market will maintain a turbulent consolidation trend in the short term.