Recently, the overall performance of the domestic commodity futures market is tepid. In accordance with the law of the past, now has come to winter traders steel traders, as represented by the rebar black products overall performance should be relatively strong. However, black products were generally weaker yesterday, intraday iron ore, ferrosilicon futures contract the largest decline of more than 4%, coking coal, coke, manganese and silicon futures contracts the largest decline of more than 2%, the largest rebar futures contract the largest decline of 1.5% or more .
However, late in the day, most of the black products decreased significantly. At the close, the main contract of manganese silicon futures doubled, the rebar contract narrowed to 0.69%.
In view of the winter trader steel traders, many market participants optimistic about the market outlook steel prices, and that iron ore, ferrosilicon and other raw material prices will follow the rebound in steel prices.
Iron ore futures prices fell sharply yesterday, Southwest Futures Xia researcher Xia Xuezhao think the following reasons: First, iron ore oversupply is more obvious, the port iron ore inventories hit record highs; the second is the recent steel profits continued to decline, Third, there is news that BHP Billiton sales contract pricing will join the mysteel index, which may have an impact on the market psychology.
Big Futures black researcher Gao Jingxing believes that the iron ore futures plunged Tuesday, but also with the downstream rebar price of rebar products have a certain relationship.
"Steel mills replenishment has come to an end." Jinshi futures analyst Liu Yizhi told Futures Daily reporter said that in addition, some time ago, steel mills profitable, and the recent sharp decline in steel profits, before to increase production without cost to use high-grade Ore mills, which are now finely tuned to use cheaper iron ore, will have their prices plummet as the high premium for high grade ore declines.
Huatai Futures black and building materials senior researcher Wei Junyi that Tuesday, coking coal, coke futures fell mainly dragged down by iron ore futures.
In the view of the high King line, the recent logic of the operation of black products or winter storage, both steel mills, including winter storage, but also winter traders steel traders.
"Black more commodities depends on the trend of rebar." Gao Jingxing said last week some areas of the domestic steel spot market vague signs of winter storage, rebar disk immediately made the reaction, the current market are waiting for winter storage " Start gun. "
According to Liu Yiqing, China's economy is expected to maintain steady growth in 2018, and the overall steel demand will also remain stable. Currently, steel mills' inventories and social inventories are lower than expected. The market for winter storage is about to start.
"Rebar futures prices will rise." Wei Junyi said that after the spot prices fell in the past two days, the enthusiasm of traders to purchase goods increased, and the market remained optimistic about spring demand.
Xia Xue Zhao believes that the latter will follow the price of iron ore prices, but the overall performance may be weaker than steel prices.
