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The Hong Kong Stock Exchange continues to rise and the iron ore bounce and sell short.
Sep 18,2020 15:55CST
Source:Guoxin futures
The content below was translated by Tencent automatically for reference.

SMM News: Friday, thread 2101 contract strong shock. The blast furnace operating rate of 163 steel mills was 69.89%, down 0.28% from last week, and the capacity utilization rate was 78.05%, an increase of 0.09%. Some steel mills face the risk of loss, later or increase maintenance efforts, the spot market mentality is temporarily stable, the cost of capital is low, there is no panic selling mood for the time being. There is a large resistance above the short-term 3600, so it is recommended to rebound and sell short.

On Friday, the iron ore 2101 contract was highly volatile. The inventory of imported iron ore in 45 ports across the country reached 11492.81 tons, an increase of 36.36 over last week, and the average daily dredging volume increased by 317.60. The extent of removing the stock in the peak season of steel is less than that expected by the market. Although the output of hot metal has not declined by a large margin, the profit of the charge is fully realized, and the estimated moisture of the charge in the later period needs to be squeezed out. Disk rebound is weak, it is recommended to rebound short.

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