黑色建材日报：市场情绪放缓，钢价震荡偏强-20250724

Report Overview - Report Date: July 24, 2025 - Report Type: Black Building Materials Daily Report - Research Institution: Huatai Futures Research Institute Industry Investment Ratings - Steel: Sideways with an upward bias [1][2] - Iron Ore: Sideways [3][4] - Coking Coal and Coke: Sideways with an upward bias [5][7] - Steam Coal: Sideways with an upward bias in the short - term, supply remains loose in the long - term [8] Core Views - The market sentiment of steel is slowing down, and steel prices are oscillating with an upward bias. The building materials are in the off - season, while the plates show strong consumption resilience. Policy benefits are emerging [1]. - The price of iron ore is oscillating. Macro - policy disturbances have increased, and the short - term price has rebounded. The supply has strong support, and the demand is guaranteed. In the long run, the supply - demand remains loose [3]. - The futures prices of coking coal and coke have risen significantly. The supply of coking coal is tight, and the demand for coke is strong. The market sentiment is positive [5][6]. - The market sentiment of steam coal is high, and the coal prices in the production areas are oscillating upwards. The supply is gradually releasing, and the demand is expected to strengthen in the short term. The supply pattern remains loose in the long run [8]. Summary by Commodity Steel - Market Analysis: The futures trading atmosphere has slowed down, and the trading volume has slightly decreased. The spot market demand has slightly increased, and the spot trading is generally weak. Building materials are in the off - season with slightly increased inventory and slightly decreased production. Plates maintain a pattern of strong supply and demand [1]. - Strategy: Unilateral: Sideways with an upward bias; Others: None [2] Iron Ore - Market Analysis: The futures price is oscillating. The spot price in Tangshan Port has slightly declined, and the trading is cold. The long - term spot trading volume has increased. The short - term price has rebounded, the supply has strong support, and the demand is guaranteed. The port inventory has not increased significantly. In the long run, the supply - demand remains loose [3]. - Strategy: Unilateral: Sideways; Others: None [4] Coking Coal and Coke - Market Analysis: The futures prices have risen significantly. The coke market has implemented two rounds of price increases, and some coking enterprises have over - increased prices. The supply of coking coal is tight, and the demand for coke is strong. The market sentiment is positive [5][6]. - Strategy: Coking Coal: Sideways with an upward bias; Coke: Sideways with an upward bias; Others: None [7] Steam Coal - Market Analysis: The coal prices in the production areas are rising. The procurement demand from metallurgy and chemical industries is good, and the restocking demand from some local power plants has been released. The port market is rising, but the terminal's acceptance of prices is slow to improve, and the trading is deadlocked. The import coal price is high and firm, but the trading activity is not high [8]. - Strategy: None