Group 1 - The domestic futures market for black metals showed a mostly positive trend, with hot-rolled coil futures experiencing a price increase of approximately 1.28%, reaching a high of 3180.00 yuan/ton [1] - The macroeconomic environment indicates a focus on addressing low-price disorderly competition among enterprises, with expectations for improved product quality and the orderly exit of outdated production capacity [1] - The weekly production of hot-rolled coils has shifted from a decrease to an increase, with a capacity utilization rate of 83.06% and a slight decline in inventory, indicating a significant improvement in apparent demand [1] Group 2 - In August, China's crude steel daily output saw a decline both month-on-month and year-on-year, with the industry practicing self-discipline in production control, leading to expectations of limited supply expansion in September [2] - The supply structure is notably differentiated, with an increase in pig iron production year-on-year, while crude steel production has decreased, and electric furnace production has significantly declined due to losses [2] - Despite an increase in demand, the current demand remains unstable, influenced by a seasonal transition, with raw material prices rising, potentially leading to fluctuations in finished product prices [2]
供给端结构分化较为明显 热卷高位震荡思路对待
Jin Tou Wang·2025-09-16 07:08