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20190424: demand weakens slightly and steel mines show weakness

iconApr 24, 2019 19:06
Source:SMM

Volume and price: black continues to rise and fall today. Specifically, RB1910 closed down 27 yuan / ton to close at 3730 yuan / ton, HC1910 closed down 13 yuan / ton at 3679 yuan / ton, I1909 fell 10 yuan / ton to close at 619 yuan / ton. J1909 rose 1 yuan per ton from yesterday's close to close at 2047 yuan per ton. In terms of position data, the number of RB1910 transactions increased by 20700 to 2.53 million, while that of I1909 decreased by 41900 to 1.21 million. In terms of capital flows, the net inflow of funds from RB1910 today was 7.63 million yuan. I1909 net outflow of funds was $308 million. Viewpoint: ups and downs are mixed. Today, RB1910 opened slightly low, down to 3718 stabilized, and then showed a concussion operation trend, shock range for (37183748), accept the shadow line of the small shade line. Yesterday, 174200 tons of building materials, down 40800 tons from the previous day, coupled with the production reached a new high, the market mentality is cautious. Last night, the Anti-Monopoly Bureau of the State Administration of Market Supervision and Administration issued the notice on the convening of a warning meeting on Monopoly behavior in the Building Materials Field, naming and criticizing futures alligators for using their financial advantages to speculate iron ore futures to cause prices to soar by 40%. Affected by this, Iron ore futures fell back significantly, falling by 1.59% in the day, closing the negative line, the short-term trend is on the short side. On the other hand, bifocal is affected by the implementation of mandatory emission reduction measures in the coking industry in some areas, and the trend is relatively strong. Taking into account the pre-festival terminal replenishment demand, inventory is expected to continue to maintain a downward trend this week, steel prices are still supported, short-term or maintain a strong trend of shock; The trend of black varieties will continue to show differentiation, bifocal performance is still strong, ore performance is the weakest, thread, hot coil in the middle. Strategy: RB1910 contract range (3600, 3850); I1909 contract range (600670). Coke single holding, thread hot coil buy 10 throw 01. Disclaimer: this information comes from a statistical arbitrage model based on historical data, and all conclusions are based on reliable and publicly available information. The SMM quantification team is not responsible for any losses that may be caused by all information. We recommend that investors independently evaluate specific investments and strategies. Investors are also encouraged to seek advice from professional financial advisers. This information does not provide a tailored investment strategy.

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