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Fund 160 million running entry iron ore multi - contract trading limit

Words:[Big][Medium][Small] Mobile Page Two-Dimensional Code 2018-06-12     

Futures market yesterday large areas of piaohong, black commodities staged "diaosi reverse attack", iron ore is retaliatory rebound, more contracts sealed limit board.Some analysts believe that iron ore prices fell after the cost support increasingly significant, providing upward momentum for futures prices.The market's bullish enthusiasm was also boosted by growing calls for interest rate cuts following the central bank's reserve requirement cut on Sunday.However, steel spot market sales did not improve, end demand limit futures price increases.

According to the statistics of wenhua finance and economics, the amount of iron ore futures into the capital yesterday was about 160 million yuan, the current precipitation of about 2.55 billion yuan.

Looking at the disk, yesterday's main iron ore futures contract 1509 volume on the opening rush, accelerating at 10:30, closed in the afternoon up 399 yuan/ton ($64).Near the month 1505 contract early trading limit, in the past eight trading days closed positive.Rebar 1510 contract strong upward attack, regain 2300 points pass.Singapore iron ore futures also jumped yesterday.The most actively traded iron ore contract for June rose 3.9 per cent to $51.35 a tonne.

BHPBilliton, the mining giant, said yesterday it would delay an expansion plan to increase iron ore output to 290m tonnes, the first big miner to slow production after a slump in prices.Another giant, Rio tinto, also said its iron ore shipments plunged 12 percent in the first quarter.

Spot iron ore prices in China were flat at $50.80 a tonne on Tuesday, according to data from the TSI steel index.Iron ore prices hit $46.70 on April 2, their lowest level since 2004-05, according to annual price data compiled by GoldmanSachs.

KashKamal, a financial analyst at sukdun, said China's sharp cut in bank reserve requirements this week to stimulate economic activity helped lift sentiment, but iron ore may struggle to rise much above $50."Whether it is a slowdown in construction activity or a potential bubble in the property sector, there are concerns that steel demand will continue to come under pressure."He said.

China's crude steel production fell 1.7 percent in the first quarter as economic growth slowed to its slowest pace since 2009.Global crude steel production fell about 3 per cent last month as a result of weak Chinese output.Even so, steel industry groups in the U.S. and Europe say China isn't doing enough to rein in overcapacity in the industry and curb its record exports.China, the world's largest steel producer, saw its exports rise by about 50 per cent last year to a record 94m tonnes, but this year they have started to fall back.

Some Chinese traders don't expect iron ore to keep rising."We have not bought iron ore shipments for two weeks."The market looks like it's going to rebound, but in the long term we think prices are going to go down, so buying now is a bit risky."Traders said.

Founder medium-term futures believe that the short-term production of some mines, steel mills and loose policies to boost, futures prices strong support rebound, but due to the port inventory is still too high, in the second quarter of foreign mines added capacity expected to release factors, the second quarter spot is expected to supply more than demand, pressure weak pattern.Recent ore futures funds continued to increase the position, the far month rebound 410-420 yuan regional high pressure may have a large shock fluctuations, April steel mills resume production for near and far month disk support is strong, if the late fundamentals, policy surface is not a big change, low season steel prices may further drive down ore.

Pioneer futures said the government will continue to maintain loose monetary and fiscal policies to hedge the risk of slowing economic growth, and interest rate cuts will not be forthcoming.If the real estate industry continues to recover, it will stimulate the demand for rebar, the oversupply situation will be improved, rebar and raw material iron ore will have a small rebound.Operation strategy, rebar and iron ore is still a good hedge operation short varieties, unilateral operation is not recommended.Single variety arbitrage rebar 1510 contract empty single and 1601 contract single can be held for a long time.Iron ore concerns about the success of the stand 400 yuan line, multi iron ore empty thread can also be appropriately involved.


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