Report Industry Investment Rating - No information about the report industry investment rating is provided in the given content. Core Viewpoints of the Report - Last week, steel and ore prices declined from their highs due to the fading of market bullish sentiment. The concept of capacity reduction has cooled down, leading to a significant decline in the black market. The trends of finished products and iron ore differ, mainly due to the impact of actual demand. Rebar is dragged down by the real estate and infrastructure sectors, with demand continuing to decrease and showing the weakest performance. Iron ore, on the other hand, is more resilient due to high hot metal production and decreasing inventory. - Although the concept of capacity reduction has cooled down, it is still likely to occur in the steel industry, and the market is not expected to reverse and decline. Before the specific policies of the Ministry of Industry and Information Technology become clear, prices are likely to fluctuate, providing opportunities for low - level absorption. - It is recommended to pay attention to the performance of support levels during the decline of steel prices and establish long positions opportunistically. [62] Summary by Relevant Catalogs 1. Raw Material Market Condition Analysis Weekly Data Changes - PB powder price decreased from 781 yuan/wet ton to 768 yuan/wet ton, a drop of 13 yuan/wet ton. - Bar - mixed powder price decreased from 803 yuan/wet ton to 790 yuan/wet ton, a drop of 13 yuan/wet ton. - PB powder spot landing profit increased from - 4.74 yuan/wet ton to - 1.69 yuan/wet ton, an increase of 3.05 yuan/wet ton. - Bar - mixed powder spot landing profit decreased from 1.31 yuan/wet ton to - 4.18 yuan/wet ton, a decrease of 5.49 yuan/wet ton. - Australia's shipping volume to China increased from 1385.4 tons to 1489.4 tons, an increase of 104 tons. - Brazil's shipping volume to China decreased from 907.8 tons to 884.3 tons, a decrease of 23.5 tons. - Imported iron ore port inventory decreased from 14395.68 tons to 14222.01 tons, a decrease of 173.67 tons. - Imported iron ore arrival volume decreased from 2511.8 tons to 2319.7 tons, a decrease of 192.1 tons. - Imported iron ore port clearance volume decreased from 329.33 tons to 317.91 tons, a decrease of 11.42 tons. - Iron ore port trading volume decreased from 99.9 tons to 60.7 tons, a decrease of 39.2 tons. - Average daily hot metal production decreased from 242.23 tons to 240.71 tons, a decrease of 1.52 tons. - Steel enterprise profitability rate increased from 63.64% to 65.37%, an increase of 1.73 percentage points. [6] 2. Market Status Analysis Weekly Data Changes (Steel Products) - Shanghai rebar price decreased from 3430 yuan/ton to 3360 yuan/ton, a drop of 70 yuan/ton. - Shanghai hot - rolled coil price decreased from 3500 yuan/ton to 3410 yuan/ton, a drop of 90 yuan/ton. - Blast furnace operating rate remained unchanged at 83.46%. - Electric furnace operating rate increased from 72.02% to 74.21%, an increase of 2.19 percentage points. - Rebar blast furnace profit decreased from 282 yuan/ton to 200 yuan/ton, a decrease of 82 yuan/ton. - Hot - rolled coil blast furnace profit decreased from 261 yuan/ton to 195 yuan/ton, a decrease of 66 yuan/ton. - Rebar electric furnace profit increased from - 30 yuan/ton to - 7 yuan/ton, an increase of 23 yuan/ton. - Weekly rebar production decreased from 211.96 tons to 211.06 tons, a decrease of 0.9 tons. - Weekly hot - rolled coil production increased from 317.49 tons to 322.79 tons, an increase of 5.3 tons. [32] Weekly Data Changes (Inventory and Consumption) - Weekly rebar social inventory increased from 372.97 tons to 384.14 tons, an increase of 11.17 tons. - Weekly hot - rolled coil social inventory increased from 267.16 tons to 268.65 tons, an increase of 1.49 tons. - Weekly rebar enterprise inventory decreased from 165.67 tons to 162.15 tons, a decrease of 3.52 tons. - Weekly hot - rolled coil enterprise inventory increased from 78 tons to 79.3 tons, an increase of 1.3 tons. - Weekly rebar apparent consumption decreased from 216.58 tons to 203.41 tons, a decrease of 13.17 tons. - Weekly hot - rolled coil apparent consumption increased from 315.24 tons to 320 tons, an increase of 4.76 tons. - Building materials trading volume decreased from 117258 tons to 86678 tons, a decrease of 30580 tons. [34] 3. Supply - Demand Data Analysis - The report also presents various data related to blast furnace and electric furnace operating rates, actual production of rebar and hot - rolled coils, steel profits, inventory levels of rebar and hot - rolled coils in enterprises and society, trading volume of building materials, apparent consumption of rebar and hot - rolled coils, steel exports, real estate development indicators, and manufacturing PMI, but no specific data summaries are provided here as they are mainly presented in graphical forms. [41][44][46]
大越期货钢矿周报-20250804
Da Yue Qi Huo·2025-08-04 05:31