Headline: the unexpected decline in the futures market is about to change?

Today, the black line of our country is one of the iron ore, but the other varieties are all down. Especially in the afternoon, the speed of the adjustment is accelerating, and the diving speed of many varieties appears. The maximum amplitude within the day is nearly 200 yuan! The double focus rose and fell back, falling to the lowest above the 2500 and 3100 yuan mark. The volume of thread and hot coil futures fell, and they stopped at 5100 yuan and 5400 yuan one after another. The market watched carefully.

Spot prices fell with the market, market transactions continued to be light, terminal procurement and speculative demand generally performed, and some were slightly better than yesterday.

On the news side, the cross of long and short makes the market fluctuate repeatedly in the tug of war. The weak reality of demand and the characteristics of "things and will be reversed" make the futures market enter a short stage of market adjustment.

In addition, the national development and Reform Commission attaches great importance to the issue of coal prices. According to the latest statement, with the end of the peak summer, the tight coal supply and demand situation in the country has significantly improved. The national development and Reform Commission will strengthen monitoring with relevant parties and investigate and deal with illegal acts such as malicious speculation and bid up prices in accordance with the law and regulations. At present, Yulin City, Shaanxi Province has carried out a special survey on the public opinion of coal price rise information. Affected by this, double coke has a high return.

In the short term, the domestic steel market still has the possibility of adjustment, but the space is not very large. After the iron ore has hit a new low, the conditions for restorative rebound are still in place, and it is expected to undertake the advantage of double coke. However, there is a slight pressure from the upper side, which may need to be confirmed repeatedly. The overall rebound of the steel market in the later stage needs to be finally established by the demand and production reduction expectation.

It should be noted that Fed chairman Powell will speak on the economic outlook at the Jackson Hole annual meeting at 10 a.m. local time (10 p.m. Beijing time) on August 27. Whether it will release new signals such as reducing bond purchase will have an impact on the capital market.

Post time: Sep-11-2021