Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-11-18 09:09Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - On Tuesday, the HC2601 contract decreased in price with reduced positions. The current steel market is in a stage dominated by weak reality and supported by costs. With the routine inspections of steel mills in regions such as Beijing, Tianjin, and Hebei, the sustainability of environmental protection production restrictions in Tangshan and other areas needs to be closely monitored. Technically, the 1 - hour MACD indicator of the HC2601 contract shows that DIFF and DEA are running above the 0 - axis. Short - term trading is recommended with attention to risk control [2]. 3. Summary by Directory 3.1 Futures Market - HC main contract closing price: 3,286 yuan/ton, down 16 yuan [2]. - HC main contract open interest: 1,217,174 lots, down 46,346 lots [2]. - HC contract top 20 net positions: - 68,884 lots, down 9,508 lots [2]. - HC1 - 5 contract spread: - 9 yuan/ton, down 2 yuan [2]. - HC Shanghai Futures Exchange warehouse receipt: 150,567 tons, up 6,484 tons [2]. - HC2601 - RB2601 contract spread: 196 yuan/ton, down 9 yuan [2]. 3.2 Spot Market - Hangzhou 4.75 hot - rolled coil: 3,320 yuan/ton, down 20 yuan [2]. - Guangzhou 4.75 hot - rolled coil: 3,310 yuan/ton, up 10 yuan [2]. - Wuhan 4.75 hot - rolled coil: 3,340 yuan/ton, unchanged [2]. - Tianjin 4.75 hot - rolled coil: 3,210 yuan/ton, unchanged [2]. - HC main contract basis: 34 yuan/ton, down 4 yuan [2]. - Hangzhou hot - rolled coil - rebar spread: 50 yuan/ton, down 20 yuan [2]. 3.3 Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 787 yuan/wet ton, down 3 yuan [2]. - Hebei quasi - first - grade metallurgical coke: 1,640 yuan/ton, unchanged [2]. - Tangshan 6 - 8mm scrap steel: 2,170 yuan/ton, unchanged [2]. - Hebei Q235 billet: 2,970 yuan/ton, unchanged [2]. - 45 - port iron ore inventory: 151.2592 million tons, up 2.3111 million tons [2]. - Sample coking plant coke inventory: 360,300 tons, down 1,200 tons [2]. - Sample steel mill coke inventory: 6.2215 million tons, down 44,100 tons [2]. - Hebei billet inventory: 1.1666 million tons, down 33,400 tons [2]. 3.4 Industry Situation - 247 steel mill blast furnace operating rate: 82.79%, down 0.36 percentage points [2]. - 247 steel mill blast furnace capacity utilization rate: 88.82%, up 1.03 percentage points [2]. - Sample steel mill hot - rolled coil output: 3.1366 million tons, down 45,000 tons [2]. - Sample steel mill hot - rolled coil capacity utilization rate: 80.13%, down 1.15 percentage points [2]. - Sample steel mill hot - rolled coil factory inventory: 775,200 tons, up 900 tons [2]. - 33 - city hot - rolled coil social inventory: 3.33 million tons, down 200 tons [2]. - Domestic crude steel output: 72 million tons, down 1.49 million tons [2]. - Steel net export volume: 9.28 million tons, down 640,000 tons [2]. 3.5 Downstream Situation - Automobile production: 3.3587 million vehicles, up 82,900 vehicles [2]. - Automobile sales: 3.3221 million vehicles, up 95,700 vehicles [2]. - Air - conditioner production: 14.204 million units, down 3.8908 million units [2]. - Household refrigerator production: 8.788 million units, down 1.3396 million units [2]. - Household washing machine production: 11.035 million units, down 749,900 units [2]. 3.6 Industry News - In October 2025, the sales of various forklifts were 114,250 units, a year - on - year increase of 15.9%. Domestic sales were 70,388 units, a year - on - year increase of 16.2%; exports were 43,862 units, a year - on - year increase of 15.4% [2]. - From November 10 to November 16, 2025, global shipyards received 51 + 6 new ship orders. Chinese shipyards received 37+6 new ship orders, and South Korean shipyards received 9 new ship orders [2].