Recent timber production increased steadily

Today, the main contract fell high, Shanghai thread rose 30 yuan/ton to 4930 yuan/ton, Shanghai hot volume held steady at 4840 yuan/ton. Thread 10 contract, Yong ‘an futures buy positions reduced 14370 hands, sell positions reduced 2075 hands; In the top 20 futures companies, positions held by buy orders decreased by 8,895 and positions held by sell orders increased by 15,202. Data show that in May 11, the total volume of national building materials trading volume is 177,000 tons, a sequential increase, higher than last week’s average volume of 162,000 tons, the current national sample steel rebar weekly output of 3,101,400 tons, a slight sequential increase of 26,300 tons, thread social inventory weekly decreased 377,900 tons to 8,611,700 tons, Steel mills inventory increased by 206,800 tons to 3,610,700 tons, apparent demand increased by 252,400 tons to 3,272,500 tons, and yesterday’s steel valley data trend is basically consistent, thread production, table needs to increase, social storage decreased but factory storage rose, steel storage is not smooth that the actual demand is still restricted. On the supply side, the recent steady increase in timber production, but the current timber spot profit is low, the implementation of superimposed crude steel production reduction policy, need to continue to pay attention to the specific start of the steel in the future. The offshore renminbi depreciated sharply again today, hitting sentiment in the domestic market after us CPI inflation exceeded market expectations and heightened fears of aggressive fed rate hikes. Around the top continuously releasing policy, promote the steady growth to return to work and production, more real estate release a positive signal, but parts of the outbreak of disturbances is still in the implementation of traffic control management, most superposition southwest guangdong and local area will be successively appeared heavy rain weather, short-term thread needs to have markedly improved, drop, iron ore and coke, weaker cost side support dynamics is insufficient, Therefo, it is expected that the short-term disk will be weak shock trend.

Post time: May-20-2022