光大期货：2月13日矿钢煤焦日报

Rebar Steel - The rebar market showed weak fluctuations, with the 2605 contract closing at 3050 CNY/ton, down 4 CNY/ton or 0.13% from the previous trading day, and open interest decreased by 34,000 contracts [3][13] - National rebar production decreased by 225,200 tons week-on-week to 1,691,600 tons, with a year-on-year decrease of 49,700 tons [3][13] - Social inventory increased by 573,100 tons to 4,232,300 tons, a year-on-year increase of 767,400 tons, while factory inventory rose by 99,400 tons to 1,635,900 tons, a year-on-year increase of 268,700 tons [3][13] - Rebar demand fell by 457,300 tons to 1,019,100 tons, with a year-on-year decrease of 150,000 tons [3][13] - The inventory accumulation in recent weeks has been significantly higher than the same period last year, with a total increase of 1,036,100 tons year-on-year [3][13] - Market sentiment may be affected by the expected inventory accumulation post-holiday, but rebar prices are expected to have limited downward space due to macroeconomic policies and overall strong performance in the commodity market [3][13] Iron Ore - The main iron ore futures contract i2605 closed at 762 CNY/ton, down 0.5 CNY/ton or 0.07% from the previous trading day, with a trading volume of 110,000 contracts and a decrease in open interest of 9,000 contracts [14][15] - The supply side was impacted by a significant reduction in shipments from Australia due to a hurricane, leading to a global decrease in shipment volumes [14][15] - On the demand side, 8 new blast furnaces were under maintenance while 11 were restarted, resulting in a slight increase in pig iron production by 19,100 tons to 2,304,900 tons [15] - The inventory of imported iron ore at 47 ports decreased by 1,825,600 tons to 177,320,000 tons, while steel mills' imported ore inventory continued to accumulate by 3,870,000 tons [15] Coking Coal - The coking coal market saw a decline, with the 2605 contract closing at 1,120 CNY/ton, down 3.5 CNY/ton or 0.31%, and open interest decreased by 17,938 contracts [16] - Supply from private coal mines has entered the holiday period, and state-owned mines are limiting supply while ensuring safety [16] - Demand from coking steel enterprises is weakening as most have completed pre-holiday stockpiling, leading to a high level of inventory [16] Coking Coke - The coking coke market also experienced a decline, with the 2605 contract closing at 1,664 CNY/ton, down 3 CNY/ton or 0.18%, while open interest increased by 280 contracts [17] - The spot market for coking coke remained stable, with prices at the port unchanged [17] - Steel mills have completed winter stockpiling, leading to reduced purchasing enthusiasm for coking coke [17] Manganese Silicon - Manganese silicon prices showed a downward trend, with the main contract closing at 5,800 CNY/ton, down 0.45%, and open interest increased by 10,954 contracts to 378,400 contracts [18] - The market price for manganese silicon in various regions ranged from 5,570 to 5,750 CNY/ton, with a slight decrease in some areas [18] - Inventory levels among sample enterprises increased slightly, remaining at historically high levels [18] Silicon Iron - Silicon iron prices also declined, with the main contract closing at 5,500 CNY/ton, down 1.47%, and open interest increased by 25,052 contracts to 187,400 contracts [19] - The market price for silicon iron varied between 5,250 and 5,300 CNY/ton, with some regions seeing a price drop [19] - Inventory levels among sample enterprises decreased slightly, remaining at mid-levels compared to historical data [19]