Hehe futures early review: hot volume weak down short – term shocks remain mainly short
The average price of 4.75mm hot coil in 24 major cities nationwide was 3,679 yuan/ton, down 6 yuan/ton from the previous trading day.Black commodity futures fell sharply yesterday, spot market shock is weak, early business offer slightly explore up, but up after the transaction is light, plus disk diving down, spot business mentality then weakened, afternoon prices appear loose, accompanied by some business dark drop.At present, the terminal demand is still ok, and the enthusiasm to prepare goods before the 11th festival in the downstream of this year is not high, which also leads to the firm demand of merchants after the festival. However, as the price weakens and the freight rises, the lack of transportation capacity leads to the wawa-and-see purchasing mood. As the resources in north China arrive in the south, the pressure in east and south China increases.Overall, today is expected to spot price shock weak operation.
The Ministry of Ecology and Environment issued the action plan for comprehensive control of air pollution in the autumn and winter of 2019-2020 in Beijing, tianjin, hebei and surrounding areas.The plan calls for the average PM2.5 concentration in the beijing-tianjin-hebei region and its surrounding areas to be reduced by 4% year-on-year during autumn and winter (October 1, 2019, March 31, 2020), and the number of days with heavy pollution or above to be reduced by 6% year-on-year.By the end of December 2019, tianjin rongcheng iron & steel co., LTD will shut down one 588 cubic meter blast furnace.Hebei province reduced the withdrawal of 14 million tons of steel production capacity, 3 million tons of coke production capacity, 1 million tons of cement production capacity and 6.6 million weight boxes of plate glass production capacity.Shanxi has reduced its steel production capacity by 1.75 million tons and shut down and eliminated its coke production capacity by 10 million tons.The coking capacity of shandong province was reduced by 10.31 million tons.In hebei province, pig iron blast furnaces for steelmaking with a reduction of less than 1,000 cubic meters and converter furnaces with a reduction of less than 100 tons were accelerated.
[operation suggestion] : hot coil 2001 night plate decline, short rhythm plate decline continued to expand, short term rebound momentum is limited, prompt to break 3370 follow up empty orders continue to hold, pay attention to the late continued to explore the strength of kinetic energy, short rhythm to maintain shock and empty mainly, have empty orders close to 3200 gradually stop surplus reduction.