129773932962187500_175Steel market rebounded slightly after the Spring Festival, features of the traditional consumption season began to emerge, prices run up and uplift of the interval as a whole has continued to sign of a breakthrough.
Side is threaded on k-line continuous steel main contract weeks elevating today, k-line up rise forms a triangle, late may continue rising pattern of oscillation. Since the end of November last year, screw-thread steel main basic contract priceOscillation rebound pattern, from a time point of view can be divided into two phases. First phase was in November last year to January this year, the prices dropped sharply in the early stage due to causing industry losses to enlarge. Although Mills also followed the fall in market price, but downstream buyers generally took a more cautious attitude, invigorating stock has barely appeared before. The second stage this year is 1Month to date, after end of first phase of oscillation to build steel market ushered in the modest rally after the lunar new year, run price 200 Yuan/ton, and uplift of the interval as a whole there are signs of a breakthrough early highs, features of the traditional consumption season begin to emerge. Steel City warmed up first in overall demand, from the Terminal requirements, real estate sales pick up, such as affordable housing and gradually started to speed up the season requiredSeeking to start. From the statistics data, in February of this year the construction area of 3.949 billion square meters of housing, 35.5% increased over the same period last year, growth rates to highest level in nearly a year. Second, the middleman contract enthusiasm also showed a significant improvement, trader's inquiries, the number of goods, Hoi Ping has increased. As far as we know
tera power leveling, as of now, onArea building steel shipments up almost 1 time from early times, volume of hot-rolled plate of Hoi Ping is up 30% from beginning the first week or so. Again, from the point of view of steel, steel prices in a clear lead in the rally of iron ore, steel production profits also rose. Data showed that domestic steel price index up 3.3% about early this month, and iron ore pricesIndex rose by only 1.6%.
Difference of two movements, also confirms this rally mainly due to the substantial improvement in demand in the market, rather than the cost of promotion. Short-term supply under pressure of profit-driven, steel mills will continue to improve the capacity utilization, resulting in increased market supplies, but supply pressure is not obvious. Monthly crude steel production data released from the Bureau of statisticsFebruary domestic daily mean yield of 1.927 million tonnes of crude steel per cent increase 5.3%. CISA diameter under the data also show that trends of increased crude steel production has occurred, is expected in early March the national yield 1.898 million tons of crude a day, per cent higher than 13.1%. From the above data estimates, throughout the March output of crude steel a day is probably more than 1930,000 tons, will bring to market a greater pressure on the surface, but actually increased production process, steel destocking process is accelerated. Data show that as of last weekend
tera gold, 26 major markets throughout the country top five social inventory 18.171 million tons of steel, over the previous week fell by 241,000 tons, stocks decline in five weeks in a row. Despite narrowed decline, but due to steelInventory transfer inventory digested faster and to society, decline in inventories as a whole still maintain relatively fast speed level. Funding analysis current coincided with the end of the quarter, seasonal tightening of money market funds withdrawal stress. Although central stops in a row enabled, and to the open market last week, the Central Bank injected a net $ 31 billion, but the short-term market interest rates have to rise. 7 days backPurchase rates, for example, has returned to relative high of 4.3%, showing market shortage of funds on the one hand, on the other hand increased probability of Central Bank reduced reserve requirements of the next few days. From the money point of view, a Galaxy futures-oriented long focussing on its stake in a long position in a row last week, position remained in the vicinity of 22,000 hands will be net, emotional bullsOld. Short main wing on futures, due to price increases gradually to reduce short positions, maintain current clearance position at about 27,000, representing a high fell in early 40%.
Description this short point significantly less pessimistic than the early, steel prices rebound. To sum up, seasonally lower demand in steel city boot speed accelerates, screw-thread steel main contract weeks k-line connectionToday, k-line up rise forms a triangle
tera power leveling, late may continue rising pattern of oscillation, recommended more than 4,300 remain long. (Author: jinyou futures Shen Chang) online statement Gold: gold online reprint of the above content, does not indicate that confirm the description, for investors ' reference only and does not constitute investment advice. Investor operations accordingly, at your own risk.
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