News summary
Steel demand is stableevvideopoker, destocking is acceleratedevvideopokerThe reduction in coking coal production drives up costs, so it is recommended to hold more orders, with target prices of 3900 yuan for thread and 4100 yuan for hot coil respectively. Iron ore is strong, but its fundamentals are loose and it is expected to follow the fluctuations of the steel market. The Fed's slowdown in interest rate hikes may affect black commodity market sentiment.
Newsletter text
The iron ore market is strong and steel mills have low inventories, and the night price closed at 925evvideopoker.5 yuan/ton, the basis difference is about 20 yuan.
Although iron ore inventory levels remain high and market fundamentals tend to be loose, iron ore, as the core link of iron, its value fluctuations mainly follow the pattern of steel supply and demand.
[Steel demand has improved and the supply side has continued to grow], the speed of dewarehousing has accelerated, the demand for rebar has reached a new high in the year, and the market conflict is not significant.
Bond issuance in the fiscal year and the redemption of fiscal aggregate will become important factors in promoting the growth of steel demand.
[Strong support for steel costs], coking coal output decreased, and molten iron output continued to rebound, providing strong support for steel prices.
[Steel market has great potential]. Market analysis shows that as multiple orders continue to be held, the target prices for rebar and hot coil are around 3900 yuan and 4100 yuan respectively.
In the international market, the Federal Reserve hinted yesterday that it might slow down interest rates, which led to a correction in the silver and copper markets and had an impact on the sentiment of the ferrous metals market. Iron ore orders need to pay close attention to the pressure performance of the 930-950 yuan line.