Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-06-10 09:00Report Industry Investment Rating - No information provided Core Viewpoints - On Tuesday, the HC2510 contract first declined and then rebounded. In May, China's CPI decreased by 0.1% year - on - year, with the decline rate remaining the same as the previous month; the PPI decreased by 3.3% year - on - year, with the decline rate widening by 0.6 percentage points compared to the previous month. In terms of supply and demand, the weekly output of hot - rolled coils increased by 92,000 tons this period, and the capacity utilization rate was adjusted up to 83.98%; the factory inventory and social inventory continued to increase, with the total inventory increasing by 78,300 tons and the apparent demand decreasing by 60,100 tons. Overall, the export volume of steel and automobiles remained strong. In the short term, continue to focus on the results of the China - US talks. Technically, the 1 - hour MACD indicator of the HC2510 contract shows that DIFF and DEA rebounded to near the 0 axis. For operation, conduct intraday short - term trading and pay attention to rhythm and risk control [2] Summary by Related Catalogs Futures Market - The closing price of the HC main contract was 3,089 yuan/ton, a decrease of 6 yuan; the trading volume was 1,592,616 lots, an increase of 7,398 lots. The net position of the top 20 in the HC contract was 132,029 lots, an increase of 2,442 lots. The HC10 - 1 contract spread was 4 yuan/ton, an increase of 2 yuan. The HC warehouse receipt of the Shanghai Futures Exchange was 122,998 tons, a decrease of 1,783 tons. The HC2510 - RB2510 contract spread was 115 yuan/ton, an increase of 1 yuan [2] Spot Market - The price of 4.75 hot - rolled coils in Hangzhou was 3,210 yuan/ton, unchanged; in Guangzhou was 3,220 yuan/ton, unchanged; in Wuhan was 3,240 yuan/ton, unchanged; in Tianjin was 3,120 yuan/ton, unchanged. The basis of the HC main contract was 121 yuan/ton, an increase of 6 yuan. The price difference between Hangzhou hot - rolled coils and rebar was 90 yuan/ton, unchanged [2] Upstream Situation - The price of 61.5% PB iron ore fines at Qingdao Port was 720 yuan/wet ton, a decrease of 6 yuan. The price of quasi - first - grade metallurgical coke in Hebei was 1,320 yuan/ton, unchanged. The price of 6 - 8mm scrap steel in Tangshan was 2,205 yuan/ton, unchanged. The price of Q235 billet in Hebei was 2,900 yuan/ton, an increase of 10 yuan. The domestic iron ore port inventory was 138.2669 million tons, a decrease of 398,900 tons. The coke inventory of sample coking plants was 881,900 tons, an increase of 97,100 tons. The coke inventory of sample steel mills was 6.4595 million tons, a decrease of 89,300 tons. The billet inventory in Hebei was 674,500 tons, an increase of 2,800 tons [2] Industry Situation - The blast furnace operating rate of 247 steel mills was 83.54%, a decrease of 0.35 percentage points. The blast furnace capacity utilization rate of 247 steel mills was 90.63%, a decrease of 0.04 percentage points. The hot - rolled coil output of sample steel mills was 3.2875 million tons, an increase of 92,000 tons. The hot - rolled coil capacity utilization rate of sample steel mills was 83.98%, an increase of 2.35 percentage points. The hot - rolled coil inventory of sample steel mills was 763,500 tons, an increase of 13,300 tons. The social inventory of hot - rolled coils in 33 cities was 2.6429 million tons, an increase of 65,000 tons. The domestic crude steel output was 86.02 million tons, a decrease of 6.82 million tons. The net steel export volume was 1.0097 million tons, an increase of 15,700 tons [2] Downstream Situation - The monthly automobile production was 2.6188 million vehicles, a decrease of 387,100 vehicles. The monthly automobile sales were 2.5896 million vehicles, a decrease of 325,900 vehicles. The monthly output of air conditioners was 30.833 million units, a decrease of 2.8789 million units. The monthly output of household refrigerators was 8.179 million units, a decrease of 1.2045 million units. The monthly output of household washing machines was 9.651 million units, a decrease of 1.3512 million units [2] Industry News - According to the latest data from the General Administration of Customs, in May 2025, China exported 695,000 automobiles; from January to May, the cumulative export was 2.853 million vehicles, a year - on - year increase of 16.8%. According to the Passenger Car Association, the retail sales of the national passenger car market in May were 1.96 million vehicles, a year - on - year increase of 13.9% and a month - on - month increase of 10%; from January to May, the cumulative retail sales of the national passenger car market were 8.934 million vehicles, a year - on - year increase of 9.5% [2]