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[daily Review of SMM Black Futures] 2019605: multi-empty game is fierce, black concussion runs
Jun 5,2019 16:28CST
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Source:SMM
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In terms of volume and price, RB1910 rose 2 yuan / ton to close at 3747 yuan / ton compared with the previous trading day, while HC1910 closed down 2 yuan / ton to 3607 yuan / ton compared with the previous trading day. I1909 closed down 1 yuan per ton to close at 719.5 yuan per ton, while J1909 closed down 12. 5 yuan per ton at 2114.5 yuan per ton. In terms of position data, the number of RB1910 transactions increased by 11200 to 2.6 million, while that of I1909 increased by 1.43 million and increased by 1870 to 1.52 million. In terms of capital flows, the net inflow of funds from RB1910 today was 37.73 million yuan. I1909 net outflow of funds was $1.37 million. Viewpoint: shock operation. After yesterday's sharp rally, today's RB1910 showed a volatile operating trend, concussion range for (3726, 3758), yesterday the national building materials trading volume is obvious, creating the highest daily trading volume in nearly half a month. Tangshan City again issued a plan for the prevention and control of air pollution, with a time limit from June 1 to June 30, and the supply contraction is expected to resume. Spot absolute price is low, spot merchants are willing to copy the bottom at a low price, it is expected that the space below is limited, thread or showing a concussion to build the bottom situation. On the iron ore side, supply pressure has eased, and recent shipments have continued to pick up. Last week, shipments from Australia and Brazil were 25.121 million tons, an increase of 2.709 million tons from the previous month, and 7.204 million tons from Brazil, an increase of 878000 tons from the previous month. On the other hand, environmental protection will restrict the demand for ore to a certain extent, and the fundamentals of short-term ore will become weaker. In terms of coke, the purchase price of coke in some steel mills in Hebei has been reduced by 100 yuan / ton, while some coke enterprises in Hebei and Shanxi have increased by 100 yuan per ton. The market has entered the game stage. Before the final result of the game, the market may run mainly by concussion. Tomorrow is the last trading day before the Dragon Boat Festival, some safe haven funds choose to leave the market ahead of time, the market is expected to fluctuate little. Strategy: RB1910 contract range (3650, 3850); I1909 contract range (680780), short-term temporary wait-and-see, the middle line can be arranged step by step on the low side. 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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