Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-06-05 09:13Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - On Thursday, the RB2510 contract decreased in price with reduced positions. In terms of macro - aspects, the Ministry of Commerce responded to new US restrictions on China and aimed to maintain the consensus of the Geneva economic and trade talks. Regarding supply - demand, the weekly output of rebar decreased by 7.05 tons, and the capacity utilization rate dropped to 47.89%. The inventory in mills and social inventory of rebar continued to decline, but the decline rate slowed, with the total inventory decreasing by 10.57 tons. Overall, high temperature and rain affected terminal demand, leading to a decline in the apparent demand for rebar. Technically, the 1 - hour MACD indicator of the RB2510 contract showed that DIFF and DEA were below the 0 - axis. The operation suggestion is short - term intraday trading, paying attention to rhythm and risk control [2] Group 3: Summary by Relevant Catalogs Futures Market - The closing price of the RB main contract was 2,959 yuan/ton, a decrease of 15 yuan; the position volume was 2,257,013 lots, a decrease of 23,378 lots; the net position of the top 20 in the RB contract was - 1,732 lots, a decrease of 23,829 lots; the RB10 - 1 contract spread was 8 yuan/ton, an increase of 4 yuan; the RB warehouse receipt at the Shanghai Futures Exchange was 40,167 tons, unchanged; the HC2510 - RB2510 contract spread was 118 yuan/ton, a decrease of 5 yuan [2] Spot Market - The price of HRB400E 20MM in Hangzhou (theoretical weight) was 3,110 yuan/ton, a decrease of 10 yuan; (actual weight) was 3,190 yuan/ton, a decrease of 10 yuan; in Guangzhou (theoretical weight) was 3,200 yuan/ton, unchanged; in Tianjin (theoretical weight) was 3,180 yuan/ton, an increase of 10 yuan. The basis of the RB main contract was 151 yuan/ton, an increase of 5 yuan; the spot price difference between hot - rolled coil and rebar in Hangzhou was 100 yuan/ton, an increase of 10 yuan [2] Upstream Situation - The price of 61.5% PB fines at Qingdao Port was 735 yuan/wet ton, an increase of 7 yuan; the price of quasi - first - grade metallurgical coke in Hebei was 1,400 yuan/ton, unchanged; the price of 6 - 8mm scrap steel in Tangshan (tax - excluded) was 2,205 yuan/ton, unchanged; the price of Q235 billet in Hebei was 2,880 yuan/ton, a decrease of 20 yuan. The domestic iron ore port inventory was 138.6658 million tons, a decrease of 1.2125 million tons; the coke inventory of sample coking plants was 784,800 tons, an increase of 51,800 tons; the coke inventory of sample steel mills was 6.5488 million tons, a decrease of 60,200 tons; the billet inventory in Tangshan was 674,500 tons, an increase of 2,800 tons. The blast furnace operation rate of 247 steel mills was 83.89%, an increase of 0.22 percentage points; the blast furnace capacity utilization rate was 90.67%, a decrease of 0.63 percentage points [2] Industry Situation - The weekly output of rebar of sample steel mills was 2.1846 million tons, a decrease of 70,500 tons; the capacity utilization rate was 47.89%, a decrease of 1.55 percentage points; the mill inventory of rebar was 1.8486 million tons, a decrease of 16,000 tons; the social inventory of rebar in 35 cities was 3.8562 million tons, a decrease of 89,700 tons. The operation rate of independent electric arc furnace steel mills was 73.96%, a decrease of 1.04 percentage points; the monthly output of domestic crude steel was 86.02 million tons, a decrease of 6.82 million tons; the monthly output of Chinese steel bars was 1.861 million tons, an increase of 131,000 tons; the net export volume of steel was 994,000 tons, a decrease of 2,000 tons [2] Downstream Situation - The national real - estate climate index was 93.86, a decrease of 0.09; the cumulative year - on - year growth rate of fixed - asset investment completion was 4.00%, a decrease of 0.20 percentage points; the cumulative year - on - year growth rate of real - estate development investment completion was - 10.30%, a decrease of 0.40 percentage points; the cumulative year - on - year growth rate of infrastructure construction investment (excluding electricity) was 5.80%, unchanged. The cumulative value of housing construction area was 6.20315 billion square meters, a decrease of 66.1 million square meters; the cumulative value of new housing construction area decreased by 48.39 million square meters; the unsold housing area was 41.703 million square meters, an increase of 455,000 square meters [2] Industry News - According to Mysteel on June 5, the actual output of rebar was 2.1846 million tons, a decrease of 70,500 tons; the mill inventory was 1.8486 million tons, a decrease of 16,000 tons; the social inventory was 3.8562 million tons, a decrease of 89,700 tons; the total inventory was 5.7048 million tons, a decrease of 105,700 tons; the apparent demand was 2.2903 million tons, a decrease of 196,500 tons. According to the survey of Centennial Building Network, on June 4, the mainstream cement enterprises in Guiyang, Guizhou, announced a price increase of 70 yuan/ton; from June 5, high - grade bulk cement in Shanghai and Jiaxing regions also increased in price. Recently, due to tight supply - demand in the cement market and cost support, cement prices in many places have started to rise [2]