2024-11-08
The contradiction between thread supply and demand is not prominent, short-term disk or shock operation.
The latest domestic thread production weekly inventory data showed a general performance, but thread futures prices still stabilized from the previous day's decline. In the view of Everbright Futures Black Research Team, the current overall thread supply and demand contradiction is not prominent, and the recent policy news to boost market confidence, under the comprehensive influence, short-term thread disk shock operation.
My steel net（Mysteel) The latest data show that as of the week of November 7, the domestic thread weekly output decreased by 95100 tons to 2.3371 million tons, a year-on-year decrease of 172700 tons; the social warehouse increased by 60000 tons to 2.8857 million tons, a year-on-year decrease of 920300 tons; the factory warehouse decreased by 8800 tons to 1.5382 million tons, a year-on-year decrease of 167300 tons. This week, the thread table needs to fall by 120900 tons to 2.2859 million tons month-on-month, down 495500 tons year-on-year.
"Thread weekly output fell for the second week in a row, inventory increased for the third week in a row, the table needs to continue to fall, the data performance is average." Everbright Futures Black Research Director Qiu Yuecheng comments that.
Qiu Yuecheng said that on the supply side, the profits of steel mills have declined significantly recently, coupled with stricter environmental restrictions in some parts of the north, the enthusiasm of steel mills for production has weakened, and thread output has continued to decline. On the demand side, the market is currently switching from the peak consumption season to the off-season, the overall terminal demand has weakened, but the recent macro policy continued to exert force, some areas of infrastructure projects to speed up the construction, the overall demand remains rigid.
Mysteel monitoring data show that from Monday to Wednesday, the average daily turnover of building materials nationwide was 133000 tons, up 13.97 percent from the previous month, while the average daily output of threads in Hangzhou market was 39600 tons, up 1.6 percent from the previous month.
"On November 4, the 12th meeting of the Standing Committee of the 14th National People's Congress considered the State Council's proposal to increase the local government debt limit to replace the stock of hidden debt. The PMI of Caixin China's service industry in October exceeded expectations, which greatly boosted market confidence." Qiu Yuecheng further said that at the same time, the in stock market inventory is at a low level, and the overall contradiction between supply and demand is not prominent. Therefore, it is expected that the short-term thread surface oscillation finishing operation.
Experts say the city-November 18
2024-11-18
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