光大期货：12月12日矿钢煤焦日报

Rebar Steel - The rebar futures contract closed at 3069 CNY/ton, down 48 CNY/ton or 1.54% from the previous trading day, with an increase in open interest by 87,900 contracts [3][12] - Spot prices fell, with Tangshan's ordinary billet price down 20 CNY/ton to 2940 CNY/ton and Hangzhou's Zhongtian rebar price down 40 CNY/ton to 3180 CNY/ton; national construction material transaction volume was 92,200 tons [3][12] - National rebar production decreased by 105,300 tons week-on-week to 1,787,800 tons, a year-on-year decrease of 392,900 tons; social inventory fell by 224,300 tons to 3,387,000 tons, a year-on-year increase of 452,800 tons [3][12] - The supply-demand data appears strong, with many regions experiencing specification shortages, providing strong support for price trends; however, market sentiment remains cautious due to expectations of increased steel mill restarts in January and weakening demand in the off-season [3][12] Iron Ore - The iron ore futures contract closed at 757 CNY/ton, down 12 CNY/ton or 1.6% from the previous trading day, with a trading volume of 320,000 contracts and a reduction in open interest by 1,000 contracts [4][13] - Port inventory of imported iron ore increased by 1,203,600 tons to 161,114,700 tons, while steel mill inventory decreased by 1,500,000 tons to 8,834,000 tons [4][13] - Supply from Australia has stabilized, while Brazil's shipments have decreased; demand is affected by increased annual inspections and the maintenance of 13 blast furnaces [4][13] Coking Coal - The coking coal futures contract closed at 1035 CNY/ton, down 35 CNY/ton or 3.27%, with an increase in open interest by 3,764 contracts [5][14] - Spot prices in Shanxi's Linfen region for lean coal decreased to 895 CNY/ton, while other coal prices also saw declines [5][14] - Supply recovery is slow due to some coal mines being shut down; downstream purchasing sentiment is weak, and procurement is cautious due to reduced profits in coking enterprises [5][14] Coking - The coking futures contract closed at 1491.5 CNY/ton, down 35.5 CNY/ton or 2.32%, with a decrease in open interest by 631 contracts [6][15] - Spot prices for metallurgical coke at the port fell to 1440 CNY/ton, a decrease of 10 CNY/ton [6][15] - The second round of price reductions for coke has begun, with expectations of expanded losses for coking enterprises; steel mills are also increasing maintenance, leading to a decline in demand [6][15] Manganese Silicon - The manganese silicon futures contract closed at 5712 CNY/ton, down 0.49%, with an increase in open interest by 10,182 contracts [7][16] - The main steel procurement price for December was set at 5770 CNY/ton, a decrease of 50 CNY/ton, with procurement volume down by 1,300 tons [7][16] - Production costs remain high, leading to increased willingness to reduce or halt production; inventory levels are at record highs due to weak demand [7][16] Silicon Iron - The silicon iron futures contract closed at 5418 CNY/ton, down 0.88%, with a decrease in open interest by 480 contracts [8][17] - The main steel procurement price for December was set at 5660 CNY/ton, a decrease of 20 CNY/ton, with a slight increase in procurement volume [8][17] - High production costs and weak demand are leading to increased intentions to reduce or halt production, with some companies already ceasing operations [8][17]