The supply of and demand for the largest steel varieties dropped by 1. 3 per cent for the supply of 7917. 6 million tons and by 1. 3 per cent for the consumption of 8. 110 million tons this week. The total stock of 1,591. 46 million tons represents a 1. 1 per cent decrease in the round-about ratio, but the stock is revolving and the factory bank is down. Basic neutral bias. Looking forward to next week, typhoon shader has affected the demand for building materials, but manufacturing and exports have been supported, production has been hampered and steel prices have fallen in limited space. At the macro level, the profits of domestic industrial enterprises have increased, and the fed has emphasized inflation control. Cement-to-cargo ring increases and concrete capacity utilization is slightly higher。
This week's review
On the supply side, the supply of the largest steel varieties this friday was 7. 9176 million tons, or 1. 3 per cent, down by 10. 07 million tons per week. Its production has continued to decline as a result of persistent weak demand for long materials, thus slowing down the overall production level of five steels; the total stock of large steels this week is 1. 9146 million tons, a decrease of 18. 34 million tons, or 1. 1 per cent, from the roundabouts. The stock of large varieties has remained unstocked on friday, mainly because of the contribution of the reduced production plant bank to further reduction. In addition, the stock is characterized by a structural resonance accumulation, with a significant decline in the plant bank and a build-up of the social bank; on the consumption side, the weekly consumption of steel varieties in the top five steel varieties this week was 8. 110 million tons, a 1. 3 per cent decline in the ring: 5. 1 per cent decrease in the consumption of construction materials and 0. 6 per cent increase in the consumption of plates. This week, owing to the effects of the off-season factors, the overlap has recently picked up, and the reduction in consumption of building materials is more pronounced than that of the sheeting. Overall, the supply of and demand for large steel varieties dropped on friday, and total stocks continued to disappear, with a neutral deviation in the basics。
Next week
On the supply side, as supply pressures continue to weaken, the profits of the steel plant also show marginal repairs, and later production is further significantly reduced or blocked in view of the proximity of the boom season; on the demand side, there is currently a period of subdued season transition, but short-term improvements in the demand for construction materials are difficult to make, and demand in the manufacturing and export sectors may provide some support. Overall, the current stock of steel in a weak supply and demand situation and its continued de-diversion suggest that current supply-side pressures have been reduced considerably, prices are stable and future demand will need to be tested; however, short-term typhoon-affected and demand has improved, leaving limited space for a short-term fall in steel prices as production costs become apparent。
"major concerns"
1 weather: at 1600 hours today (26 august), the centre of typhoon shader, 18th, is located on the eastern sea, about 600 km north-east of the zhebai junction, near which it has the largest wind force of 14 (42 m/s, heavy typhoon class). It is expected that shadr will move at a rate of about 15 kilometres per hour, with little change in intensity and gradually approach the zhebai coast, and will land off the coast (35 to 42 metres per second, 12 to 14 degrees, typhoon class or typhoon class) between the night of 27 and the morning of 28 days in zhejiang and fujian gang. Heavy or heavy rains occurred in eastern and south-central zhejiang, fujian, south-central, hunan, west-central guangdong, guangxi, south-eastern guizhou and south-south yunnan, as well as in southern zhejiang and north-eastern fujian. Accumulated rainfall in the above areas ranges from 50 to 180 mm, in parts 200 to 400 mm, and in the south-east and north-east regions of zhejiang and fujian more than 500 mm。
Macro: domestic: total profits of industrial enterprises of more than 4,1 trillion yuan in the period from 1 to 7 per cent, an increase of 8. 9 per cent over the previous year. On 27 august, the central bank carried out a reverse buy-back operation of $23. 95 billion over a seven-day period at an operating rate of 1. 4 per cent. Overseas: jackson hole global central bank annual conference: federal reserve chairman walsh delivered a speech stressing that inflation remained above target, reiterating the fed’s determination to reduce inflation to 2 per cent, and warning that if economic data continue to overheat, further interest rates will not hesitate. The euro area manufacturing industry, with an initial pmi value of 43. 5 in august, is expected to have 43. 1, the pre-value of 43. 0, still in the contraction zone but with slight improvement。
3 &: cement: on 19 august - 25 august, 2,579,000 tons of cement arrived in the country, an increase of 3. 68 per cent over the ring. Of that total, the east china region accounted for 1. 13 million tons of cargo, an increase of 5. 46 per cent in the ring ratio, while the south china region accounted for 317,000 tons, a decrease of 0. 25 per cent. (b) concrete: on 19 august - 25 august, the capacity utilization rate for 506 concrete mixing stations in the country was 5. 74 per cent, an increase of 0. 50 percentage points for the roundabout; a decrease of 0. 90 percentage points for the same year. The delivery of 506 concrete mixing stations amounted to 1,141. 3 million units, representing an increase of 9. 59 per cent in the roundabouts and a decrease of 13. 61 per cent over the same period。
In terms of screws, production continued to decline this week, cumulatively reducing by 73,000 tons. In the subregion, the decrease is mainly from the east, north and north-west regions. In the sub-provinces, the reduction in production has been due mainly to the inadequate supply of steel plant raw materials, short-term shutdowns and repairs; a slight increase in production due to the resumption of steel production in heilongjiang and jiangxi; and an increase in cable production this week, totalling 13,000 tons, mainly from electric stoves. In the subregion, the increase was mainly concentrated in the northern part of china, with an increase of 13. 9 million tons in supplies; in the sub-provinces, the largest increase was in shanxi, with an increase in weekly production of 13. 9 million tons, with other regions experiencing varying degrees of adjustments in cable production; with regard to the heat rolls, production continued to fall this week, with a decline of 397 million tons per round, an additional steel plant was overhauled this week, a steel plant resumed and production resumed slowly。
According to mysteel, the production of screwdrivers continued to decline this week, cumulatively reducing by 73,000 tons. In the subregion, the decrease is mainly from the east, north and north-west regions. In the sub-provinces, the reduction in production was ahead of the reduction in jiangsu, yunnan, fujian and shanxi, mainly due to inadequate supply of steel plant raw materials, short-term shutdowns and repairs; a slight increase in production due to the resumption of steel production, including in heilongjiang and jiangxi; and a marked decrease in cable bank this week, totalling 4. 53 million tons. In the subregion, the largest decline was recorded in eastern china, with a reduction of 16,000 tons per week; in sub-provinces, shanxi suffered the highest reduction, with a reduction of 13,000 tons; in the case of heat rolls, there was a small increase in the factory's interior stock this week, with market prices warming to a certain degree in the recent past and a high level of downstream sentiment。
According to mysteel, construction materials, in the case of screwdrivers, show that in the seven largest regions, except for china, south-west and north-west, where there is a small circulation, the rest of the region is in a state of retrenchment, of which east china is the region with the largest amount of retrenchment, with a total of 66. 4 million tons. In the case of the heat rolls, in the seven regions, there is a state of detachment in all but the east china region, with a total of 5. 13 million tons of treasure, of which the south china region is the region with a relatively large amount of detortage and 20. 9 million tons of treture。
According to mysteel, the total stock of large varieties this friday was 1. 9146 million tons, a decrease of 18. 34 million tons, or 1. 1 per cent, in the roundabout. Of this total, 118. 5 million tons or 1. 5 per cent less were rounded off of the stock of building materials, and 6. 49 million tons or 0. 8 per cent less. The total stock in the previous period was 1. 69 million tons, representing a decrease of 1876 million tons, or 1. 2 per cent, in the circle, of which 1,984 million tons, or 2. 4 per cent, were for construction materials; and 10. 80 million tons, or 0. 1 per cent, were for board materials。
[annex: seasonal change in consumption of five species]
