瑞达期货热轧卷板产业链日报-20260330

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - On Monday, the HC2605 contract rebounded with a reduction in positions. The terminal demand is resilient, and there is still support from the cost side, but the international situation is volatile with many uncertainties. It is recommended to conduct short - term trading and pay attention to risk control [2] Group 3: Summary by Related Catalogs 1. Futures Market - The closing price of the HC main contract is 3,308 yuan/ton, up 9 yuan; the position volume is 846,816 lots, down 72,722 lots; the net position of the top 20 in the HC contract is - 47,685 lots, up 7,307 lots; the HC5 - 10 contract spread is - 15 yuan/ton, down 4 yuan; the HC Shanghai Futures Exchange warehouse receipt is 549,618 tons, up 6,457 tons; the HC2605 - RB2605 contract spread is 169 yuan/ton, down 6 yuan [2] 2. Spot Market - The price of 4.75 hot - rolled coils in Hangzhou is 3,320 yuan/ton, up 10 yuan; in Guangzhou is 3,310 yuan/ton, up 20 yuan; in Wuhan is 3,350 yuan/ton, unchanged; in Tianjin is 3,230 yuan/ton, up 10 yuan. The basis of the HC main contract is 12 yuan/ton, up 1 yuan; the spread between Hangzhou hot - rolled coils and rebar is 40 yuan/ton, down 10 yuan [2] 3. Upstream Situation - The price of 61.5% PB powder ore at Qingdao Port is 792 yuan/wet ton, up 4 yuan; the price of Hebei quasi - first - grade metallurgical coke is 1,490 yuan/ton, unchanged; the price of 6 - 8mm scrap steel in Tangshan is 2,180 yuan/ton, unchanged; the price of Hebei Q235 billet is 2,970 yuan/ton, up 10 yuan. The inventory of iron ore at 45 ports is 16,996.84 tons, down 105.83 tons; the inventory of coke at sample coking plants is 49.76 tons, down 2.59 tons; the inventory of coke at sample steel mills is 691.73 tons, up 3.95 tons; the inventory of Hebei billets is 239.94 tons, down 9.59 tons [2] 4. Industry Situation - The blast furnace operating rate of 247 steel mills is 81.05%, up 1.25%; the blast furnace capacity utilization rate is 86.65%, up 1.10%. The output of hot - rolled coils at sample steel mills is 305.61 tons, up 5.4 tons; the capacity utilization rate of hot - rolled coils at sample steel mills is 78.07%, up 1.38%. The factory inventory of hot - rolled coils at sample steel mills is 83.85 tons, down 1.11 tons; the social inventory of hot - rolled coils in 33 cities is 369.42 tons, down 6.91 tons. The domestic crude steel output is 6,818 tons, down 169 tons; the net export volume of steel is 747 tons, up 18 tons [2] 5. Downstream Situation - The monthly output of automobiles is 167.24 million, down 77.74 million; the monthly sales volume of automobiles is 180.52 million, down 54.13 million. The monthly output of air conditioners is 2,162.89 million, up 660.29 million; the monthly output of household refrigerators is 1,001.15 million, up 56.95 million; the monthly output of household washing machines is 1,197.50 million, down 3.80 million [2] 6. Industry News - On March 26, Mysteel information showed that the actual output of hot - rolled coils this period was 305.61 tons, a week - on - week increase of 5.4 tons; the factory inventory was 83.85 tons, a week - on - week decrease of 1.11 tons; the social inventory was 369.42 tons, a week - on - week decrease of 6.91 tons; the total inventory was 453.27 tons, a week - on - week decrease of 8.02 tons; the apparent demand was 313.63 tons, a week - on - week increase of 3.12 tons. The Ministry of Commerce determined that the measures of the Mexican government to increase import tariff rates on products from non - free - trade partners such as China constitute a trade and investment barrier [2]