Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-06 09:57Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint On Wednesday, the HC2510 contract fluctuated with a slight upward trend. The central bank and six other departments jointly issued the "Guiding Opinions on Financial Support for New - type Industrialization". The weekly output of hot - rolled coils stopped falling and rebounded, with a capacity utilization rate of 82.46%, at a relatively high level; apparent demand recovered, and inventory increased slightly. Overall, the terminal demand for hot - rolled coils is resilient, combined with the high prices of coal and coke, providing cost - side support. Technically, the 1 - hour MACD indicator of the HC2510 contract shows that DIFF and DEA are rebounding upwards. Operationally, short - term long positions can be considered on pullbacks, paying attention to rhythm and risk control [3]. 3. Summary by Relevant Catalogs 3.1 Futures Market - HC main contract closing price was 3,451 yuan/ton, a decrease of 6 yuan; the main contract position was 1,460,175 lots, a decrease of 1,559 lots [3]. - The net position of the top 20 in the HC contract was - 79,258 lots, a decrease of 16,464 lots; the HC10 - 1 contract spread was - 4 yuan/ton, an increase of 1 yuan [3]. - The HC Shanghai Futures Exchange warehouse receipt was 70,915 tons, an increase of 14,917 tons; the HC2510 - RB2510 contract spread was 217 yuan/ton, a decrease of 7 yuan [3]. 3.2 Spot Market - The price of 4.75 hot - rolled coils in Hangzhou was 3,510 yuan/ton, an increase of 40 yuan; in Guangzhou was 3,470 yuan/ton, an increase of 40 yuan; in Wuhan was 3,500 yuan/ton, an increase of 30 yuan; in Tianjin was 3,410 yuan/ton, an increase of 40 yuan [3]. - The HC main contract basis was 59 yuan/ton, an increase of 46 yuan; the Hangzhou hot - rolled coil - rebar spread was 120 yuan/ton, an increase of 20 yuan [3]. 3.3 Upstream Situation - The price of 61.5% PB fine ore at Qingdao Port was 774 yuan/wet ton, a decrease of 4 yuan; the price of Hebei quasi - first - class metallurgical coke was 1,535 yuan/ton, unchanged [3]. - The price of 6 - 8mm scrap steel in Tangshan was 2,250 yuan/ton, unchanged; the price of Hebei Q235 billet was 3,090 yuan/ton, an increase of 10 yuan [3]. - The 45 - port iron ore inventory was 136.579 million tons, a decrease of 1.3248 million tons; the sample coking plant coke inventory was 462,800 tons, a decrease of 35,200 tons [3]. - The sample steel mill coke inventory was 6.2678 million tons, a decrease of 132,200 tons; the Hebei billet inventory was 1.1102 million tons, an increase of 41,000 tons [3]. 3.4 Industry Situation - The blast furnace operating rate of 247 steel mills was 83.48%, unchanged; the blast furnace capacity utilization rate was 90.22%, a decrease of 0.56 percentage points [3]. - The sample steel mill hot - rolled coil output was 3.2279 million tons, an increase of 53,000 tons; the sample steel mill hot - rolled coil capacity utilization rate was 82.46%, an increase of 1.35 percentage points [3]. - The sample steel mill hot - rolled coil inventory was 793,000 tons, an increase of 13,000 tons; the 33 - city hot - rolled coil social inventory was 2.6865 million tons, an increase of 14,900 tons [3]. - The domestic crude steel output was 83.18 million tons, a decrease of 3.36 million tons; the net steel export volume was 9.21 million tons, a decrease of 890,000 tons [3]. 3.5 Downstream Situation - The monthly automobile production was 2.7941 million vehicles, an increase of 145,600 vehicles; the monthly automobile sales were 2.9045 million vehicles, an increase of 218,100 vehicles [3]. - The monthly air - conditioner production was 28.3831 million units, a decrease of 1.0969 million units; the monthly household refrigerator production was 9.0474 million units, an increase of 537,400 units [3]. - The monthly household washing machine production was 9.5079 million units, an increase of 95,900 units [3]. 3.6 Industry News - In late July 2025, key steel enterprises produced 21.8 million tons of crude steel, with an average daily output of 1.982 million tons, a 7.4% decrease in daily output month - on - month; 20.41 million tons of pig iron, with an average daily output of 1.856 million tons, a 4.5% decrease in daily output month - on - month; 23 million tons of steel, with an average daily output of 2.091 million tons, a 0.5% increase in daily output month - on - month [3]. - The Passenger Car Association raised its full - year sales forecast for 2025, expecting 24.35 million passenger car retail sales in 2025, a 6% year - on - year increase, and the forecast volume was 300,000 units more than the June forecast [3]. 3.7 Key Points of Attention The weekly output, in - plant inventory, and social inventory of hot - rolled coils on Thursday [3].