Major projects in many places are concentrated! Steel futures rose 120! Iron ore rose more than 4%! Steel prices continue to rise!
On August 21st, the spot market of steel products mainly rose, and all the main products in the futures market rose, among which the hot coil rose by 121, the iron ore rose by 4.58%, and the double coke rose by over 3%. According to reports, many places seized the "golden period" of construction in the third quarter, promoted the construction of major projects, accelerated the digestion of overlapping old national standard inventory resources, and restored market confidence; However, the spot transaction is still relatively average, and the steel price tomorrow ...
Long-short factor analysis
1.Major projects started in the third quarter in many places.
Recently, major projects in Changsha, Fuzhou, Dongguan and other places started in the third quarter. From the perspective of investment, industrial development projects such as high-end equipment manufacturing have become important points of strength. From the perspective of investment scale, the investment in "big projects" is strong. In the next stage, with the joint promotion of increasing financial support, accelerating the issuance of government bonds and the construction of projects, maintaining abundant major projects, and the gradual fading of low cardinal utility accompanied by extreme weather, infrastructure investment is expected to accelerate, which is conducive to increasing steel demand and favorable steel price trends.
2.Final ruling disclosure of EU countervailing investigation on electric vehicles in China
On August 20th, local time, the European Commission disclosed to relevant parties the draft decision on imposing final countervailing duty on pure electric vehicles imported from China. Among them, BYD is 17%, Geely is 19.3%, SAIC is 36.3%, other cooperative companies are 21.3% and all other non-cooperative companies are 36.3%; Decided to impose a separate tariff rate on Tesla as an exporter in China, which is set at 9% at this stage; The European Commission also decided not to levy countervailing duties retroactively. This protectionist practice of the European Union has aggravated the trade tension between China and Europe, which may have an impact on China's automobile exports in the short term, or may affect the demand for steel products and adversely affect the price trend of steel products.
3.The old national standard rebar market inventory accounts for 60%.
According to Mysteel's research, on August 20th, the inventory of the national old-standard rebar market accounted for 60.11%, with a decrease of 1.57% from the previous month. From the perspective of seven regions, Northeast China accounted for 57.93%, with a decrease of 0.37%, North China accounted for 51.23%, with a decrease of 3.3%, East China accounted for 60.55%, with an increase of 0.8%, and South China accounted for 76%, with a decrease. With the accelerated digestion of the old national standard resources in steel mills' inventory, market confidence has recovered, which is good for the steel price trend.
