First funding2019-02-01 17:03:15
Commodities are generally red, iron ore futures are rising, weekly futures
This week, many domestic commodity futures were red, black iron ore led the high, and metallurgical coal and coke rose sharply on Thursday. In the chemicals sector, oil and methanol rose together. Due to the growing uncertainty of the import policy, the performance of the futures remained weak.
Hot spot 1: Vale closed the ore dam Iron ore futures led to rising
This week, affected by the Vale accident, iron ore prices rose sharply, which greatly boosted the overall black system trend. The mining giant's number one dam in a mining area in the southern part of the Vale do Vale region of Brazil suffered a dam-breaking accident last week and caused serious casualties and property losses. As one of the follow-up remedies, Vale announced on Tuesday that the company submitted an application for approval and closure of 10 upstream dams to the Brazilian Ministry of Energy and Environment to end the hidden dangers of the dam. In addition to iron ore, Vale is also the largest nickel producer in the world and, due to event factors, the main nickel contract in Shanghai rose 2.69%.
Hot spot 2: The spot market is barely traded.
As the Spring Festival approaches, most of the customers in the spot market are on vacation, and the spot market is in a priceless state. Statistics show that wire production fell for the third consecutive week, falling below the 3 million ton level for the first time since March 9 last year, and below the same period last year. In the case of the shutdown of the electric furnace steel and the revision of some long-flow steel mills, the production of steelworks is still subject to some suppression. The demand for terminals chained before the Spring Festival basically stagnated, and the accumulated accumulation of social actions increased. At the beginning of 2019, steel stocks were significantly lower than in the same period of the previous year, and contractual organization of steelmakers was relatively smooth, and pressure on steelmakers was not large. This week, boosted by the increase in neighboring commodities, the price of the pre-holiday segment rose to some extent after the overdraft. In the case where the base was greatly reduced, the price volatility of the lines in the last two trading days before the holiday fell.
Hotspot 3: Increase in demand for refueling
The market expects imports of US soybeans to rise after the holiday, and the soybean market is worried. In addition, the US government resumed construction, and on February 8, USDA quarterly supply and demand data and other related reports were released to avoid the risk of uncertainty during the Spring Festival holiday. Due to the impact of African swine fever, food companies reduced storage capacity for more than 20 days and, after the Spring Festival, the oyster market faced a new round of centralized storage, a period in which recovery occurred in the period post-holiday. Production may not be able to meet demand for a week's worth of buying, and the gradual rebound in the price of soybean meal is expected to increase after the holiday.
Focus on next week: on February 6, the US API and EIA weekly crude inventory report will be released, focusing on the impact of the data on the crude oil market.
Publisher: Zhao Wei