Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-10-09 12:03Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View On Thursday, the HC2601 contract rebounded with increased positions. The EU announced steel import restrictions on October 7, planning to significantly cut the steel import quota eligible for tariff exemptions and raise the steel tariff from 25% to 50%. The weekly output of hot-rolled coils remains high with a capacity utilization rate of 82.58%, but demand has declined and inventory has increased. Overall, the holiday affected terminal demand, and tariff disruptions affected market confidence. However, the expectation of post-holiday demand recovery, combined with the rebound of furnace materials, may support steel prices. Technically, the 1-hour MACD indicator of the HC2601 contract shows that DIFF and DEA rebounded from low levels, and the green bar turned red. It is recommended to conduct short-term trading and pay attention to rhythm and risk control [2]. 3. Summary by Relevant Catalogs Futures Market - HC main contract closing price: 3,286 yuan/ton, up 33 yuan [2]. - HC main contract open interest: 1,374,586 lots, up 24,718 lots [2]. - HC contract top 20 net positions: -23,217 lots, up 21,390 lots [2]. - HC1 - 5 contract spread: -7 yuan/ton, down 1 yuan [2]. - HC Shanghai Futures Exchange warehouse receipt: 46,314 tons, unchanged [2]. - HC2601 - RB2601 contract spread: 190 yuan/ton, up 9 yuan [2]. Spot Market - Hangzhou 4.75 hot-rolled coil: 3,370 yuan/ton, up 20 yuan [2]. - Guangzhou 4.75 hot-rolled coil: 3,320 yuan/ton, up 10 yuan [2]. - Wuhan 4.75 hot-rolled coil: 3,400 yuan/ton, unchanged [2]. - Tianjin 4.75 hot-rolled coil: 3,290 yuan/ton, up 10 yuan [2]. - HC main contract basis: 84 yuan/ton, down 13 yuan [2]. - Hangzhou hot-rolled coil - rebar spread: 80 yuan/ton, up 10 yuan [2]. Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 783 yuan/wet ton, up 5 yuan [2]. - Hebei quasi-primary metallurgical coke: 1,490 yuan/ton, unchanged [2]. - Tangshan 6 - 8mm scrap steel: 2,250 yuan/ton, unchanged [2]. - Hebei Q235 billet: 2,960 yuan/ton, up 10 yuan [2]. - 45-port iron ore inventory: 139.9735 million tons, up 1.9313 million tons [2]. - Sample coking plant coke inventory: 39.06 million tons, down 0.23 million tons [2]. - Sample steel mill coke inventory: 663.11 million tons, up 1.73 million tons [2]. - Hebei billet inventory: 127.6 million tons, up 7.94 million tons [2]. Industry Situation - 247 steel mill blast furnace operating rate: 84.27%, down 0.20% [2]. - 247 steel mill blast furnace capacity utilization rate: 90.63%, down 0.25% [2]. - Sample steel mill hot-rolled coil output: 3.2329 million tons, down 0.014 million tons [2]. - Sample steel mill hot-rolled coil capacity utilization rate: 82.58%, down 0.37% [2]. - Sample steel mill hot-rolled coil factory inventory: 83.60 million tons, up 2.40 million tons [2]. - 33-city hot-rolled coil social inventory: 3.2930 million tons, up 0.2992 million tons [2]. - Domestic crude steel output: 77.37 million tons, down 2.29 million tons [2]. - Steel net export volume: 9.01 million tons, down 0.38 million tons [2]. Downstream Situation - Automobile production: 2.8154 million vehicles, up 0.2243 million vehicles [2]. - Automobile sales: 2.8566 million vehicles, up 0.2632 million vehicles [2]. - Air conditioner production: 16.8188 million units, down 3.7777 million units [2]. - Household refrigerator production: 9.4532 million units, up 0.7225 million units [2]. - Household washing machine production: 10.1318 million units, up 1.3575 million units [2]. Industry News - This week, the total inventory of five major steel products was 16.0072 million tons, up 1.2786 million tons. Among them, the steel mill inventory was 4.7256 million tons, up 0.5863 million tons; the social inventory was 11.2816 million tons, up 0.6923 million tons [2]. - From September 29 to October 5, 2025, global shipyards received 18 new ship orders. Chinese shipyards received 13 orders, South Korean shipyards received 4 orders, and Finnish shipyards also received relevant orders [2].