28th Steel Price Trend

First, the macro news briefing 1, the Federal Reserve does not reduce quantitative easing during the year. Diane Machi, the chief US economist at Barclays Banking, said in an interview with Xinhua News Agency recently that although the U.S. economy has recently made major improvements, it is still a moderate recovery. Taking into account the tax increase, the government's deficit reduction and other factors, the Fed is unlikely to reduce the scale of quantitative easing this year.

2. China and Germany jointly oppose the EU's anti-dumping duties on China. When Chinese Premier Li Keqiang visited Germany, German Chancellor Angela Merkel once again conveyed this position in Berlin on May 26: On the issue of trade disputes between China and the EU, German officials chose to stand on the side of China. In a joint press communique issued on the 26th, the two Prime Ministers stated: "The two sides oppose protectionism and hope that China and the EU will resolve trade disputes such as photovoltaic and wireless communication products through dialogue."

3. The industrial profit in the first four months increased by 11.4% year-on-year. The National Bureau of Statistics released data yesterday. From January to April, national industrial enterprises above designated size realized profits of 1,166.9 billion yuan, an increase of 11.4% over the same period of last year. According to the analysis, the acceleration of growth was mainly driven by the three industries of electric power production and supply, automobile manufacturing, computer communications and other electronic equipment manufacturing.

4. The increase in the circulation of central bank bills will increase the liquidity of "anemia." According to an announcement released yesterday by the Central Bank’s Open Market Operations Operations Office, in order to maintain the steady growth of the base currency and the stability of the money market rate, a three-month bill of RMB 7 billion will be issued today, which is a slight increase from the issuance size of the same-type central bank bill last week. 1 billion yuan. The central bank also conducted 7-day and 14-day reverse repurchase and 28-day repurchase operations to open market primary dealers yesterday.

5, decentralization of energy approval: the local "development of the text" determines the fate of the project. According to the idea of ​​the National Energy Administration, projects that have already been included in the country's relevant energy planning approvals or approvals shall be decentralized except for projects involving other regions, that require national overall arrangements or total control, and foreign capital projects that are subject to review. .

Second, the relevant disk summary US stocks on the 27th due to Memorial Day to rest a day. U.S. stocks ended flat on Friday, with the major stock indexes closing mixed, but the ups and downs were very small. Investors are very concerned about the volatile Asian markets. The US durable goods orders grew faster than expected in April, providing strong support to the market. The Dow Jones Industrial Average rose 8.60 points to close at 15,303.10 points, or 0.06%. The Dow fell by 0.3% last week; the S&P 500 fell 0.91 points to close at 1649.60 points, or 0.06%, and the index fell 1.1% last week. On the New York Mercantile Exchange, gold prices for June delivery fell by 5.2 dollars to close at 1386.6 dollars per ounce. Crude oil prices for June delivery fell by US$0.1 to settle at US$94.15 per barrel. LME copper closed at $7,299/ton, down $1/ton from the previous trading day.

Third, the billet price trend early on the 28th: ​​Yesterday, Tangshan general billet descended 40, Changli this morning sent to 3010, Xinglong / country ex-factory 2990, both including tax; traders naked price 2860.

Fourth, the ore price trend The price of iron concentrate powder continued to fall in Hebei last week, the trend continued to fall last week, the decline in the range of 10-30 yuan / ton, the market turnover is also falling. The import ore market was operating weakly and the market ore price was lower, and transactions were generally low. The price of 66% sour flour dry base in Tangshan area is priced at 1,040 yuan. The current quotation of 63.5/63% of Indian ore mine in the foreign mining market is around US$114. Tianjin Port's 63.5% Indian ore price is priced at RMB 900/t; Qingdao Port's 61.5% PB ore price is RMB 860/t. Yesterday, Platts 62%, $121.25, -$1.75.

V. Coking price trend The coke price remained weak throughout the country yesterday, and the market performance remained weak; now the local coking plant is under pressure from steel mills' depots, production and sales, the production enthusiasm is not high, and production is mainly restricted. Although the pressure on the factory inventory is not Large, because the steel mills continue to suppress the price of raw materials, the market outlook remains pessimistic. Now the primary metallurgical coke in Shanxi Province is 1,300 yuan/ton; the quasi-class metallurgical coke is tax-included at 1,250 yuan; the secondary metallurgical coke in Handan, Hebei Province is 1,320 yuan; the secondary metallurgical coke in Huaibei region is tax-included at 1,300 yuan; Grade metallurgical coke factory tax price of 1280 yuan.

6. The coiled hot coil closed at the close of May 27th. The closing price of 25mm rebar in the Beijing market was 3,630 yuan/ton, which was a drop of 10 yuan/ton from the previous day; the Shanghai market was 3,350 yuan/ton in the third-tier rebar, which was higher than the previous day's price. Declined by RMB 50/t; Guangzhou's tertiary rebar was RMB 3,770/t, which was RMB 20/t higher than the previous day's price.

On May 27th, the closing price of 5.5mmQ235 hot-rolled coil in Shanghai market was 3460 yuan/ton, which was a decrease of 20 yuan/ton from the previous day; the closing price of hot coil in Tianjin market was 3420 yuan/ton, down by 10 yuan/ton from the previous day; The closing price of the Lecong hot market was 3520 yuan/ton, which was a drop of 20 yuan/ton from the previous day.

Seventh, spiral analysis of large groups May 27, thread ** main contract 1310 lower than the previous day's settlement price to open, with 3553 yuan opening, after the opening shock down, the highest touch 3554 yuan, the lowest probe to 3496 yuan, and finally It closed at 3,496 yuan, down 74 yuan from the previous trading day and finally closed at the Yinxian. Volume 3,902,784 contracts were enlarged compared with the previous trading day. Hand positions were 1986072, an increase of 310,802 contracts. It is estimated that today's price pressure will be 3,550 yuan/ton and the support point will be 3,460 yuan/ton.

On May 27th, the main selling contract of HR coils RB1308 opened with a price of 3495 yuan. After the opening bell, the price fell to 3,459 yuan and finally closed at 3,461 yuan, down 47 yuan from the previous trading day, and finally closing the small Yin line. The volume of 152,270 contracts has shrunk compared to the previous trading day, holding 160,430 contracts, an increase of 1980 hands. It is expected that today's price pressure will be 3,500 yuan/ton and the support point will be 3,430 yuan/ton.

Eight, spot price forecast is expected today Beijing market 25mm three rebar prices fell 20 yuan / ton, to 3610 yuan / ton; Shanghai market three rebar offer fell 10 yuan / ton, at 3340 yuan / ton; Guangzhou market three Grade rebar market prices fell by 20 yuan/ton, and the offer price was 3,750 yuan/ton.

It is estimated that the mainstream quotation for 5.5mmQ235 hot-rolled coils in Shanghai market today will fall by RMB 20/t at RMB 3,460/t; the listing prices for hot-rolled coils in Tianjin market will fall by RMB 20/t at RMB 3,400/t; the quotation of hot coils in Lecong market will fall 20 yuan / ton, the market price at 3,500 yuan / ton.