As the Spring Festival holiday factors, the recent domestic steel market traders from the city, basically in a state, market transactions tend to light, the price change only slightly, the overall change in the range of 10 yuan / ton or less. The recent decline of domestic steel prices rebound in international steel prices, stainless steel prices prices continue to rise-oriented silicon steel price level. In addition, up coal mine drop, lme nickel rose, Japanese scrap ascent.
Quotes for the future the following points should be noted: First, the Spring Festival holiday seven days, plus the first month 15 people are still in pre-New Year's tradition, construction workers will not soon return to work, estimated construction steel products in February were in the whole there will be no major adjustments; Secondly, social inventories to rise further, reaching more than 1427 million tons; the three, the futures market consolidation reduction for the Festival to prepare for the market; the Fourth, Baosteel (600019) 12 out of the Steel ex-factory prices rose across the board in March, or in the 200-450 yuan / ton between the price of steel will have a stimulating effect. (Societe Generale Securities) lme nickel price during the reporting period rose 21.55%, stainless steel stocks also declined, but the price of Foshan, stainless steel rose about 3% only, so we determine the cost factor at least in the short term will be to promote domestic steel prices continue to rise. Domestic stainless steel prices, the ratio of price and the S & P in the past five-year low, with the normalization of the economic structure, we believe that in the medium term stainless steel prices rose more than Pu. We are still bullish TISCO Stainless Steel (000825), Baoshan Iron & Steel, and Angang Steel Company Limited (000898) investment opportunities.
Concerned about in January and sub-provinces and cities in the country's steel production, variety steel import and export data, focusing on production of medium-sized steel enterprises, financial data. (State Golden Securities (600,109))
Ring in January compared with a small decline in exports of high inventories and policy control-than-expected
Domestic crude steel exports in January were down, ending months of imports and exports continued to improve the situation, but this does not affect our exports in 2010 promising to judge. Exports lower than expected may be due to: 1) from last year, early in October, the international steel prices have emerged more than two months of adjustment, the adjustment of 5% -15%, and this time lag is reflected in the decline in imports in January ; 2) from the past three years, the statistical data shows that in January compared with December generally have shown a drop, and our main export areas, namely in the northern hemisphere winter, the country needs less relevant. The resumption of international economic role in promoting China's steel exports is in line with our expectations, exports continued to improve worth the wait. However, since December 2009 since the government's regulation and control efforts far exceeded market expectations frequencies. In addition, steel distributors have begun to face pressure from banks, faced with a falling stock process, which will have some time to come the impact of steel prices.
From the external environment, the international steel city of nearly a month was bottoming out trend, we recently tracked machinery, household appliances and other mechanical and electrical products export orders has also greatly improved, indirect recovery in exports is also worth looking forward to. (Orient Securities) recently, prices of raw materials makes steel products, gross margin space is drastically reduced procurement based on market estimates of tons of steel under the Maori returned to break-even point or even micro-loss condition. Inventory of raw materials is the iron and steel enterprises to protect the key to profitability in the first quarter, the Government introduced the regulation-intensive measures that are making our prospects for the second quarter, concerns about steel demand, iron and steel industry, facing the second quarter, the profitability of downside risk.