Current Daily Review (28 October)
< 1 > on the spot side.
Steel prices have generally fluctuated upwards over the weekend: increases range from 10 to 50 (40 to 50 in Shanghai).
Trading volume: general.
Tangshan area billet downward 10 to 3350 yuan / ton.
Market mentality: caution still dominates.
< 2 > on futures:
RB2001 main contract:
Intraday large reduction of positions, tail positions to 77828 hands, the day between 3366 and 3322 between strong shocks, the end of 3327. The main organization has a daily clearance of 31455 hands.
HC2001 main contract:
Day small increase in positions, tail positions to 14518 hands, within the day between 3378 and 3333 between strong shocks, the end of 3341. The main organization within the day clearance single 339 hands.
Iron ore l2001 main contract:
Intra-day significant reduction and increase, tail position to 3274 hands, within the day between 642 to 626 strong shock, tail close 627. The main organization has a daily clearance of 20342 hands.
Leprechaun J2001 main contract:
After a large reduction in the day, a large increase in positions, the end of the increase to 44588 hands, within the day between 1799.5 to 1736.5 rushed back down, the end of 1747.5. The main organization has a daily clearance of 12780 hands.
Coking coal JM2001 main contract:
Within the day a small increase in positions, tail positions to 4300 hands, within the day between 1269.5 and 1244 narrow range weak shock, tail 1248. The main organization has a daily clearance of 1777 hands.
< 3 > current forecast for tomorrow:
1. Spot: steady and strong.
two。 Futures:
RB2001 main contract:
Between 3310 and 3380.
HC2001 main contract:
Between 3320 and 3400.
Iron ore l2001 main contract:
Between 610 and 650.
Leprechaun J2001 main contract:
Between 1700 and 1800.
Coking coal JM2001 main contract:
Between 1230 and 1280.
< IV > current operation suggestions:
1. Spot: inventory reduction is still the main theme.
two。 Steel: black system short-term up and down space are limited, timely stop profit is the best policy; pay attention to the sharp fall in RB/HC2005 contract to give cloth more opportunities, otherwise it is appropriate to wait and see.
RB2001/HC2001 main contract:
The short rhythm is mainly low and short, fast in and out; the trend of empty and high gradually intervene again.
Iron ore L2001 main contract: more trading in the range (multiple single effective breakdown 610 stop loss, empty single effective breakthrough 660 stop loss).
Demon coke J2001 main contract: the interval shock trading is dominant, the lower value near the single, the upper value near the empty single (multiple single effective breakdown 1700 stop loss, empty single effective break through 1800 stop loss).
Coking coal JM2001 main contract: wait-and-see or interval shock trading mainly (multiple single effective breakdown 1200 stop loss, empty single effective break through 1300 stop loss).
< 5 > Heart language and information.
1. Shandong Province this autumn and winter differential peak production documents landed.
two。 Samarco, a joint venture between Vale and BHP Billiton, was approved to resume operations.
3. Four people have been trapped in a flooded coal mine in Xiangyuan County, Shanxi Province.
4. Trade between China and the United States shows a more positive signal.
On the evening of the 25th, the leaders of the Sino-US high-level economic and trade consultations called, and the two sides agreed to properly address their core concerns and confirm that the technical consultations on some of the texts were basically completed.
5. Marginal improvement, the driving force of base difference is weak, the original sin is still the disturbance of financial emotion. Long and short are not excessive wayward; spot do not hold a fluke psychology, whenever the rebound is bold to go to the warehouse.
6. The raw material end is generally stable. Iron ore disk sticking 126, coke disk sticking 119, coking coal 257.
7. This week, the black department of the author maintained a strong concussion in the range.
< 6 > short rhythm, trend analysis and views are detailed in the weekly review (18 and 25 October).
Details consultant Lu Qingping 021-51595781
(disclaimer: this article is exclusively produced and published by the author under the exclusive authorization of SMM Iron and Steel, and may not be reproduced without authorization)
