Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-07 09:49Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report On Thursday, the HC2510 contract decreased in positions and consolidated. With the rebound of steel prices, downstream demand weakened, but the macro - face outlook was positive, and there was cost - side support, so the market might fluctuate. Technically, the 1 - hour MACD indicator of the HC2510 contract showed that DIFF and DEA were adjusting downward, and the red column was shrinking. It is recommended to conduct short - term trading and pay attention to rhythm and risk control [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - HC main contract closing price was 3,440 yuan/ton, down 11 yuan; HC main contract open interest was 1,428,587 lots, down 31,588 lots; HC contract top 20 net positions were - 75,167 lots, up 4,091 lots; HC10 - 1 contract spread was 0 yuan/ton, up 4 yuan; HC Shanghai Futures Exchange warehouse receipt was 70,915 tons, unchanged; HC2510 - RB2510 contract spread was 209 yuan/ton, down 8 yuan [2]. 3.2 Spot Market - Hangzhou 4.75 hot - rolled coil was 3,500 yuan/ton, down 10 yuan; Guangzhou 4.75 hot - rolled coil was 3,470 yuan/ton, unchanged; Wuhan 4.75 hot - rolled coil was 3,500 yuan/ton, unchanged; Tianjin 4.75 hot - rolled coil was 3,400 yuan/ton, down 10 yuan; HC main contract basis was 60 yuan/ton, up 1 yuan; Hangzhou hot - rolled coil - rebar spread was 100 yuan/ton, down 20 yuan [2]. 3.3 Upstream Situation - Qingdao Port 61.5% PB fine ore was 773 yuan/wet ton, down 1 yuan; Hebei quasi - first - grade metallurgical coke was 1,535 yuan/ton, unchanged; Tangshan 6 - 8mm scrap steel was 2,250 yuan/ton, unchanged; Hebei Q235 billet was 3,090 yuan/ton, up 20 yuan; 45 - port iron ore inventory was 136.579 million tons, down 1.3248 million tons; sample coking plant coke inventory was 462,800 tons, down 35,200 tons; sample steel mill coke inventory was 6.2678 million tons, down 132,200 tons; Hebei billet inventory was 1.1536 million tons, up 43,400 tons [2]. 3.4 Industry Situation - 247 steel mills' blast furnace operating rate was 83.48%, unchanged; 247 steel mills' blast furnace capacity utilization rate was 90.22%, down 0.56 percentage points; sample steel mill hot - rolled coil output was 3.1489 million tons, down 79,000 tons; sample steel mill hot - rolled coil capacity utilization rate was 80.44%, down 2.02 percentage points; sample steel mill hot - rolled coil factory inventory was 778,800 tons, down 14,200 tons; 33 - city hot - rolled coil social inventory was 2.7875 million tons, up 101,000 tons; domestic crude steel output was 83.18 million tons, down 3.36 million tons; steel net export volume was 9.384 million tons, up 174,000 tons [2]. 3.5 Downstream Situation - Automobile production was 2.7941 million vehicles, up 145,600 vehicles; automobile sales were 2.9045 million vehicles, up 218,100 vehicles; air - conditioner output was 28.3831 million units, down 1.0969 million units; household refrigerator output was 9.0474 million units, up 537,400 units; household washing machine output was 9.5079 million units, up 95,900 units [2]. 3.6 Industry News - In July 2025, China's steel exports were 9.836 million tons, up 158,000 tons month - on - month, a 1.6% increase; from January to July, cumulative steel exports were 67.983 million tons, a 11.4% year - on - year increase. In July, China's steel imports were 452,000 tons, down 18,000 tons month - on - month, a 3.8% decrease; from January to July, cumulative steel imports were 3.476 million tons, a 15.7% year - on - year decrease. The Passenger Car Association raised its full - year sales forecast for 2025, expecting 24.35 million passenger car retail sales, a 6% year - on - year increase, with the forecast volume 300,000 units more than the June forecast [2].