Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report On Tuesday, the HC2510 contract continued to rise. With positive macro - policy expectations, the week - on - week hot - rolled coil production slightly declined, factory and social inventories both decreased, and terminal demand was resilient, which supported the strong operation of hot - rolled coil futures. Technically, the 1 - hour MACD indicator of the HC2510 contract showed that DIFF and DEA were running at a high level. The recommended operation was to conduct long - biased trading while paying attention to rhythm and risk control [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - HC main contract closing price: 3,477 yuan/ton, up 83 yuan [2]. - HC main contract position: 1,582,445 lots, down 18,031 lots [2]. - Net position of the top 20 in HC contracts: - 51,658 lots, up 10,293 lots [2]. - HC10 - 1 contract spread: - 15 yuan/ton, up 1 yuan [2]. - HC warehouse receipts at the Shanghai Futures Exchange: 59,549 tons, down 905 tons [2]. - HC2510 - RB2510 contract spread: 170 yuan/ton, unchanged [2]. 3.2 Spot Market - Hangzhou 4.75 hot - rolled coil: 3,450 yuan/ton, up 10 yuan [2]. - Guangzhou 4.75 hot - rolled coil: 3,490 yuan/ton, up 60 yuan [2]. - Wuhan 4.75 hot - rolled coil: 3,460 yuan/ton, up 10 yuan [2]. - Tianjin 4.75 hot - rolled coil: 3,350 yuan/ton, up 10 yuan [2]. - HC main contract basis: - 27 yuan/ton, down 73 yuan [2]. - Hangzhou hot - rolled coil - rebar spread: 30 yuan/ton, down 40 yuan [2]. 3.3 Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 783 yuan/wet ton, down 6 yuan [2]. - Hebei quasi - first - grade metallurgical coke: 1,265 yuan/ton, unchanged [2]. - Tangshan 6 - 8mm scrap steel: 2,240 yuan/ton, unchanged [2]. - Hebei Q235 billet: 3,120 yuan/ton, up 60 yuan [2]. - 45 - port iron ore inventory: 137.8521 million tons, up 0.1932 million tons [2]. - Sample coking plant coke inventory: 554,200 tons, down 43,500 tons [2]. - Sample steel mill coke inventory: 6.3909 million tons, up 11,200 tons [2]. - Hebei billet inventory: 1.0362 million tons, up 60,900 tons [2]. 3.4 Industry Situation - 247 steel mill blast furnace operating rate: 83.48%, up 0.35% [2]. - 247 steel mill blast furnace capacity utilization rate: 90.92%, up 1.05% [2]. - Sample steel mill hot - rolled coil output: 3.2114 million tons, down 20,000 tons [2]. - Sample steel mill hot - rolled coil capacity utilization rate: 82.04%, down 0.51% [2]. - Sample steel mill hot - rolled coil factory inventory: 773,100 tons, down 5,000 tons [2]. - 33 - city hot - rolled coil social inventory: 2.656 million tons, down 21,500 tons [2]. - Domestic crude steel output: 83.18 million tons, down 3.36 million tons [2]. - Steel net export volume: 9.21 million tons, down 0.89 million tons [2]. 3.5 Downstream Situation - Automobile production: 2.7941 million vehicles, up 0.1456 million vehicles [2]. - Automobile sales: 2.9045 million vehicles, up 0.2181 million vehicles [2]. - Air - conditioner production: 28.3831 million units, down 1.0969 million units [2]. - Household refrigerator production: 9.0474 million units, up 0.5374 million units [2]. - Household washing machine production: 9.5079 million units, up 0.0959 million units [2]. 3.6 Industry News - At the 10th Shaanxi - Shanxi - Sichuan - Gansu Steel Enterprises Summit Forum from July 19th to 20th, steel enterprise representatives agreed to implement the central government's requirement to break the "involution" and strengthen industry self - discipline for the development of the regional steel industry [2]. - In June, the domestic billet export volume was 1.1757 million tons, a month - on - month decrease of 14.33% and a year - on - year increase of 280.19%. From January to June, the domestic billet export volume was 5.8922 million tons, a year - on - year increase of 300.31% [2].
瑞达期货热轧卷板产业链日报-20250722
Rui Da Qi Huo·2025-07-22 09:27