Fundamentals continue to improve! Thread inventory ratio-6.1%, and year-on-year-11.5%]-Shanghai Metals Market

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Fundamentals continue to improve! Thread inventory ratio-6.1%, and year-on-year-11.5%]

Translation 05:31:21PM Mar 21, 2019 Source:SMM

In the sixth week after the festival, the fundamentals of the thread continued to improve. The total national thread inventory was 1172.3, down 763000 tons from last week, or-6.1 per cent from the previous week. Compared with the same period last year, current inventories are down from 1.519 million tons in the same period last year, or-11.5 per cent from a year earlier. The decline of factory and warehouse is still the main reason for the decline of total inventory.

Social inventory: this week's thread social database 916.9, down 55.2% from last week's 972.1, month-on-month ratio of-6.0%. With the arrival of spring, the temperature gradually warmed up, the construction site resumed work one after another, and the downstream demand arrived as expected. Social coffers are also being consumed, down 3.8 per cent from 9.528 million tons in the same period last year.

On the price side: the VAT rate was cut from 16 per cent to 13 per cent this week, and steel traders rose in order to earn a tax spread of 3 per cent, with the national average price of thread rising 3962.9 from 3911.7 last week. Yesterday, the VALE official propaganda court allowed it to resume transportation in the Laramjeiras dam and Brucutu mining area. The iron ore plate fell under the influence of this news, and the screw plate surface went down slightly, but the spot thread price remained strong in most areas and did not reduce the price, so it can be seen from this point of view. Thread fundamentals gradually improved on the current steel price is still supported, the rising trend remains unchanged, the recent raw material side news is more repeated, need to pay attention to the disturbance of mining price to steel cost support.

Key Words:  Inventory  daily review 

Fundamentals continue to improve! Thread inventory ratio-6.1%, and year-on-year-11.5%]

Translation 05:31:21PM Mar 21, 2019 Source:SMM

In the sixth week after the festival, the fundamentals of the thread continued to improve. The total national thread inventory was 1172.3, down 763000 tons from last week, or-6.1 per cent from the previous week. Compared with the same period last year, current inventories are down from 1.519 million tons in the same period last year, or-11.5 per cent from a year earlier. The decline of factory and warehouse is still the main reason for the decline of total inventory.

Social inventory: this week's thread social database 916.9, down 55.2% from last week's 972.1, month-on-month ratio of-6.0%. With the arrival of spring, the temperature gradually warmed up, the construction site resumed work one after another, and the downstream demand arrived as expected. Social coffers are also being consumed, down 3.8 per cent from 9.528 million tons in the same period last year.

On the price side: the VAT rate was cut from 16 per cent to 13 per cent this week, and steel traders rose in order to earn a tax spread of 3 per cent, with the national average price of thread rising 3962.9 from 3911.7 last week. Yesterday, the VALE official propaganda court allowed it to resume transportation in the Laramjeiras dam and Brucutu mining area. The iron ore plate fell under the influence of this news, and the screw plate surface went down slightly, but the spot thread price remained strong in most areas and did not reduce the price, so it can be seen from this point of view. Thread fundamentals gradually improved on the current steel price is still supported, the rising trend remains unchanged, the recent raw material side news is more repeated, need to pay attention to the disturbance of mining price to steel cost support.

Key Words:  Inventory  daily review