Black goods continued the fiery July. In August 7th, the thread coil futures contract trading once the impact of trading. At the close, the thread of the main futures rose 6.42% to 4079 yuan per ton, a record high for 4 years. Hot rolled futures contract rose 4.49% to 4030 yuan per ton, refresh a new high since listing. Iron ore and coke contracts rose by 3.01% and 2.30% respectively.
According to Mandarin finance statistics show that in August 7th, the total commodity futures market funds for 114 billion 350 million yuan, the outflow of funds 580 million yuan. Black chain index (including coke, coking coal, iron ore, thread) net inflow of 190 million yuan, the total precipitation of 36 billion 590 million yuan, the day of the total position of 7 million 169 thousand hands, lighten up 373 thousand hands. Among them, the thread index has become the focus of withdrawal of funds varieties, net outflow of 900 million yuan of funds, while iron ore attracted a net inflow of 550 million yuan of funds.
Haitong Securities and Futures Research Director high on Zhengbao told reporters, compared with July, the current black commodities fundamentals did not change much, around the ban land of steel operation is still in progress, the iron ore is still in a state of high inventories, but after the beginning of autumn, the new infrastructure into the season, the market demand is expected to increase in the autumn season last fall, the commodity index has risen sharply, do not rule out this year will reproduce the rally last year.
Black LUZHENG Futures Institute chief analyst Pei Hongbin also told reporters that the supply side reforms of the iron and steel industry are still in leading black commodities market, "the effect of intermediate frequency furnace" has some capacity to bring the price of steel and some steel mills in recent years, high profit reached.
However, in August, the local environmental protection storm continued to blow.
Hebei provincial Environmental Protection Bureau recently announced the "Hebei province to deal with heavy pollution weather and heating season peak production special plan". According to the plan, the implementation of the classification management of iron and steel enterprises, in accordance with the emissions performance level, cities (including Xinji) making staggering production plan. Shijiazhuang, Tangshan, Handan and other key areas, heating season iron and steel production capacity limit 50%. Coking enterprises in Hebei province limit production of about 30%.
West Ben Shinkansen experts believe that if the implementation of these programs in place, preliminary estimates, limited production period, Hebei and Henan region to reduce total crude steel supply of about 7 million tons, close to 10% of crude steel production nationwide.
This led directly to the spot market steel prices rose. According to the West Ben Shinkansen spot trading platform monitoring data show that last week, the domestic steel prices rose overall, East China and North China prices led the country, most market prices hit a new high for the year. As of August 4th, the country's 61 major markets, 25mm specifications, three grade rebar average price of 4168 yuan / ton, up 82 yuan per ton.
In addition, the "Beijing, Tianjin and surrounding areas in 2017 air pollution prevention work program" to promote the market is also affecting the nerves.
"The" Beijing Tianjin and surrounding areas in 2017 atmospheric pollution prevention work program "," 2+26 "city to crude steel production capacity reached 3 tons, if strictly enforced will be reduced by about 30000000 tons of steel production, will no doubt for the tight balance between supply and demand, inventories are low in the steel market again add momentum." Pei Hongbin says.
Environmental protection storm, the market for future supply contraction is expected to increase. Pei Hongbin said that at present, the central no signs of relaxation to production of steel, with the autumn season, the expected factors of arc furnace production progress is slow, black commodities is expected to continue to maintain a strong situation. Investors are advised to pay close attention to the implementation of the policy of limiting production, and take precautions against risks.
