Iron ore staged "roller coaster" market chemical futures ice and fire two days-Shanghai Metals Market

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Iron ore staged "roller coaster" market chemical futures ice and fire two days

Translation 04:13:37PM Jun 18, 2019 Source:Wenhua Finance and Economics

SMM News: domestic commodity futures on Tuesday weak operation. Can variety cold and hot uneven, SC crude oil fell 3%, close to the pre-holiday low, PTA rebound kinetic energy, hit a two-and-a-half-week high. In the black system, iron ore fell in the middle of the afternoon and soared by more than 2 per cent in late trading. Most of the agricultural products went down, and the apple brush was at a low level in the last week, and the oil and oil crops showed differentiation. The Wenhua Commodity Index, which tracks the trend of domestic goods, fell 0.32 percent to 150.54 points. Iron ore futures hit 800 levels failed on Friday, superimposed Tangshan billet prices plummeted, releasing pessimism in the market. Today, the black system overall shock stabilized, near the end of trading, iron ore futures suddenly rose, 1909 contract up to 787.5 yuan / ton, the final closing up 2.14%, driven by the thread and hot coil main force are turned red. Recently, many environmental protection measures have been introduced frequently, but the profit of long-process steel still makes its production reduction demand is not significant. The latest data show that the arrival of iron ore to Hong Kong last week increased by 8 per cent compared with the previous month, but iron ore port stocks continued to fall to a low of 117 million tons, and shipments from Australia and Pakistan continued to fall, and the pattern of supply and demand remained preferred. In addition, the firm will raise the 1909 contract margin to 10% from today's settlement, at this time a sharp increase in the long point, or a huge test of the cost of short positions, do not rule out the possibility of forced short operation. The new main force of SC crude oil tumbled 3%, again approaching pre-holiday lows, while international oil prices completed a second dip last week. But recent performance has remained weak as poor Chinese economic data have raised concerns about falling global oil demand. Fuel oil and asphalt routinely fell by more than 2%, fuel oil broke down, and asphalt closed at a new low of 2284 yuan. Both are facing a situation of weak domestic demand. Asphalt supply pressure is not small, from the production plan, even if the demand is off-season, the refinery operation rate also maintained the growth trend. The output of asphalt from local refining and PetroChina system increased, and Sinopec remained stable. PTA recent rebound momentum, supply and demand have come good news, helped by several sets of large plant maintenance plan and polyester production and marketing phase explosion boost. In terms of capital flow, the main outflow of domestic goods is the outflow of domestic goods. Non-ferrous plate lost more than 1 billion funds, Shanghai zinc bear the brunt, blood loss of 409 million yuan. The coal sector performed poorly and was abandoned by nearly 500 million dollars. However, the building materials plate is favored, swallowing 328 million funds within the day, of which the rebar alone accounts for 312 million. The monthly report on housing sales prices in 70 large and medium-sized cities in China released today by the National Bureau of Statistics shows that the price increase in commercial housing sales in China's first-and second-tier cities is generally stable. In the evening, data on new housing starts and construction permits will be released in the United States in May. In addition, the Federal Reserve began a two-day policy meeting on Tuesday, and the market expects the FED to stand still and build momentum for a rate cut in July.

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Key Words:  Iron ore  steel  steel prices  raw ore 

Iron ore staged "roller coaster" market chemical futures ice and fire two days

Translation 04:13:37PM Jun 18, 2019 Source:Wenhua Finance and Economics

SMM News: domestic commodity futures on Tuesday weak operation. Can variety cold and hot uneven, SC crude oil fell 3%, close to the pre-holiday low, PTA rebound kinetic energy, hit a two-and-a-half-week high. In the black system, iron ore fell in the middle of the afternoon and soared by more than 2 per cent in late trading. Most of the agricultural products went down, and the apple brush was at a low level in the last week, and the oil and oil crops showed differentiation. The Wenhua Commodity Index, which tracks the trend of domestic goods, fell 0.32 percent to 150.54 points. Iron ore futures hit 800 levels failed on Friday, superimposed Tangshan billet prices plummeted, releasing pessimism in the market. Today, the black system overall shock stabilized, near the end of trading, iron ore futures suddenly rose, 1909 contract up to 787.5 yuan / ton, the final closing up 2.14%, driven by the thread and hot coil main force are turned red. Recently, many environmental protection measures have been introduced frequently, but the profit of long-process steel still makes its production reduction demand is not significant. The latest data show that the arrival of iron ore to Hong Kong last week increased by 8 per cent compared with the previous month, but iron ore port stocks continued to fall to a low of 117 million tons, and shipments from Australia and Pakistan continued to fall, and the pattern of supply and demand remained preferred. In addition, the firm will raise the 1909 contract margin to 10% from today's settlement, at this time a sharp increase in the long point, or a huge test of the cost of short positions, do not rule out the possibility of forced short operation. The new main force of SC crude oil tumbled 3%, again approaching pre-holiday lows, while international oil prices completed a second dip last week. But recent performance has remained weak as poor Chinese economic data have raised concerns about falling global oil demand. Fuel oil and asphalt routinely fell by more than 2%, fuel oil broke down, and asphalt closed at a new low of 2284 yuan. Both are facing a situation of weak domestic demand. Asphalt supply pressure is not small, from the production plan, even if the demand is off-season, the refinery operation rate also maintained the growth trend. The output of asphalt from local refining and PetroChina system increased, and Sinopec remained stable. PTA recent rebound momentum, supply and demand have come good news, helped by several sets of large plant maintenance plan and polyester production and marketing phase explosion boost. In terms of capital flow, the main outflow of domestic goods is the outflow of domestic goods. Non-ferrous plate lost more than 1 billion funds, Shanghai zinc bear the brunt, blood loss of 409 million yuan. The coal sector performed poorly and was abandoned by nearly 500 million dollars. However, the building materials plate is favored, swallowing 328 million funds within the day, of which the rebar alone accounts for 312 million. The monthly report on housing sales prices in 70 large and medium-sized cities in China released today by the National Bureau of Statistics shows that the price increase in commercial housing sales in China's first-and second-tier cities is generally stable. In the evening, data on new housing starts and construction permits will be released in the United States in May. In addition, the Federal Reserve began a two-day policy meeting on Tuesday, and the market expects the FED to stand still and build momentum for a rate cut in July.

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Key Words:  Iron ore  steel  steel prices  raw ore