螺纹热卷日报-20260119

Group 1: Report General Information - Report Name: Black Metal Daily Report - Rebar and Hot Rolled Coil Daily Report [1] - Date: January 19, 2026 [1] - Researcher: Qi Chunyi [2] - Futures Practitioner Certificate Number: F03113636 [2] - Investment Consulting Certificate Number: Z0018817 [2] Group 2: Market Information - Spot Prices: Shanghai Zhongtian rebar is 3260 yuan (-10), Beijing Jingye rebar is 3150 yuan (-20), Shanghai Angang hot rolled coil is 3290 yuan (-10), Tianjin Hegang hot rolled coil is 3190 yuan (-10) [4] Group 3: Market Analysis and Trading Strategies Core View - Steel prices are expected to remain volatile before the Spring Festival, but may fluctuate due to market sentiment. The recent decline in macro - sentiment may put pressure on steel prices [5] Trading Strategies - Unilateral: Market sentiment has weakened, with a possible short - term slight correction and a continued volatile and weak trend [5] - Arbitrage: It is recommended to short the hot - rolled coil to coking coal ratio at high levels and continue to hold the short position of the hot - rolled coil to rebar spread [6] - Options: It is recommended to wait and see [7] Group 4: Important Information - China's industrial added value of large - scale industries in December increased by 5.2% year - on - year, with a previous value of 4.80% and an expected value of 5% [8] - China's year - to - date urban fixed - asset investment in December decreased by 3.8% year - on - year, with an expected value of - 3% and a previous value of - 2.60% [9] Group 5: Related Attachments - The report contains multiple figures showing various indicators such as rebar and hot - rolled coil prices, basis, spreads, and profits from 2022 to 2026 [14][16][18]