Last week, the thread and hot roll was oscillating upward trend, Tangshan billet rushed 3800 yuan/ton, steel spot market also generally rose, but the high price demand is weak. Under the influence of environmental protection, the stock of steel decreases greatly and the stock pressure is not big. Limiting the expected support steel price, the expected thread and hot coil surface high shock.
Burden, iron ore and Coke first after the suppression, Zhou Yan led to a large increase in black, environmental protection and limiting the message of high pressure on the panel, the middle and late start to fall back adjustment. On the spot, Hebei on behalf of steel mills again cut the price of Coke. Four-quarter increase in iron ore shipments, supply side of the situation of greater pressure will not change in the short term, environmental protection limiting the demand for raw materials to support, this week, the official opening of environmental protection, expected to stabilize the raw materials and weak shocks.
The CFTC's net bullish position is not rising, and copper prices are being shifted downward. However, the fundamentals have not gone bad, the material will still be the main concussion. The rise in nickel prices is driven more by speculative funds than by supply and demand. With the speculation enthusiasm retreat, nickel price also along with the concussion fell, is expected to continue to adjust the trend.
Crude oil: Oil futures in Europe and the US rose to a new high of more than two years in the news this week. The earlier hype of OPEC's cut-and-go-ahead has continued to be a big factor in pushing up oil prices, with the addition of Saudi Arabia and Russia, where Iraq, Kazakhstan and Azerbaijan have joined the production support team. The number of U.S. online oil-transfer towers has fallen to its lowest level since May, and the battle in Saudi Arabia has sparked an atmosphere of tension in the oil market, with a better overall price range. But the recent increase in U.S. crude oil production has become a major negative factor affecting oil prices. In the short term, although the oil price is still in the uplink, the risk of a high pullback is exacerbated.
PTA: This week, international oil prices have been sharply pulled up, PTA by cost-side favorable and supply decline factors such as the impact of the rebound market. In the week, Granville Petrochemical, Yadong Petrochemical and Tianjin petrochemical plant stop overhaul, support PTA prices further climbing. From the demand point of view, Polyester factory inventory low, polyester factory production and marketing data in the late weeks began to cool, polyester filament market prices tend to be stable, early for the needs of the good expectations after overdraft, late continue to uplink space is limited. Next week, Li million polyester 700,000 tons/year installation plan restart, and Xiang Heron also exist in the possibility of putting into production, so PTA market rebound or will be blocked, the overall maintenance interval shocks. Operation, more than 1801 short lines continue to hold, concerned about positions, such as the emergence of a substantial increase in the surplus away from the field.
Polyolefin: Plastic products have been structurally differentiated this week. Low-pressure film-headed out of the camp, continuously raise prices, high pressure and linear price overall performance is relatively calm. A small decline in petrochemical inventories to the price of a certain support, demand is still a lack of bright spot, this week downstream terminal demand for good improvement limited. One of the film production season close to the end, including PE packaging film production enterprises average operating rate of 65%-70%, agricultural film manufacturers average operating rate of about 65%. In the short term, the short-term reduction of petrochemical inventories to the price of a certain support, but demand, downstream terminal demand performance is still less than expected. Short-term L is expected to oscillate strongly in the 9500-10000 interval. Operation, the early empty single continued to hold, concerned about the support of 9650.
Last week, the market breakthrough before the strong, short-term upward trend is still, IPO audit speed is lower than expected, and improve the quality of listed companies favorable market development, the medium-term market to maintain a long train of thought, listed companies profit adjustment behavior by more stringent supervision, continue to good performance of the real-world blue-chip and white horse stock, more than one
Black Plate
News: 1. Hebei dedicated steel from 10th to stop three 1080, 15th before 0 o'clock stop 12,602, 5,001 seats, Total 6300m³ limited to 51%, at the same time thread, disk screw price unified increase of 120 yuan/ton. 2. January-October, the car production and sales completed 22.957 million and 22.927 million, respectively, year-on-year increase of 4.3% and 4.1%, lower than a year ago 9.5 and 9.7%. The cumulative growth rate of production and sales decreased by 0.5 and 0.3% respectively compared with January-September. 3. The river Steel Group Coke purchase price downward 100 yuan, the primary coke cumulative drop 520 yuan.
Chemical Plate
(1) Friday (November 10) New York Mercantile Futures Exchange West Texas light oil December 2017 futures settlement price of $56.74 per barrel, down 0.43 from the previous trading day, a decrease of 0.8%, trading range 56.55-57.35; Brent crude, the London Intercontinental Exchange, traded at $63.52 a barrel for January 2017 futures, down $0.41 from the previous session, 0.6% per cent, and 63.35-64.27.
(2) According to data released by Baker, an oil field service, the number of U.S. online drilling wells in 738, up 9 from the week to November 10, was the biggest decline since May 2016, up 286 from a year earlier. The report showed that Alaska State increased by 1 seats, New Mexico State increased by 4, Oklahoma increased 6, Texas State reduced 2, Utah State increased 1, and West Virginia State 1 seats. This week, 18 U.S. offshore platforms were flat compared with previous weeks, down 3 from a year earlier. The baker data also showed that the U.S. gas drilling in the same period of 169, and the previous week flat, 54 more than the same period last year. The U.S. land oil and gas platform totals 888, up 9 from the previous week, a 342 increase over the same period last year. The U.S. oil and gas drilling platform totaled 907, up 9 from the previous week, up 339 from the same period last year.
Metal Plate
1, October 2017 SMM China refined copper production of 722,500 tons, the chain growth 5.55%, year-on-year growth of 9.14%, January-October cumulative production of 6.5465 million tons, year-on-year growth of 1.84%. HULUDAO macro leap North Copper industry 150,000 tons of electrolytic copper project will be put into production in November, at the same time according to the November refinery scheduling plan, SMM expected that in November China refined copper production will remain high to 723,000 tons, year-on-year increase of 8.4%, January-November cumulative production will reach 7.2695 million tons, year-on-year growth of 2.46 %. October 2017 (31 days) SMM China's alumina production of 6.02 million tons, year-on-year growth of 14.5%, daily output of 194,000 tons, daily output increased by 0.9%, January-October cumulative production 57.163 million tons, year-on-year growth of 19.1%. SMM China electrolytic aluminum production 2.981 million tons, the year-on-year increase of 6.3%, January-October domestic electrolytic aluminum cumulative production of 30.384 million tons, the year-on-year increase of 17.1%. October 2017 SMM China's original lead production 255,829 tons, the chain fell 4%, up 3.43% year-on-year. January-October Domestic lead cumulative production of 2,417,724 tons, year-on-year decline of 1.5%. October 2017 SMM China refined zinc production 500,800 tons, the chain increased 5.98%, year-on-year increase of 4.99%. January-October Refining zinc production 4.47 million tons, January-October cumulative year-on-year decline of 0.78%. October 2017 SMM China's electrolytic nickel production of 12,600 tons, the chain increased 1.3%, the year-on-year decrease of 17.6%. January-October electrolytic Nickel production 129,000 tons, year-on-year decline of 13.4%. 2, according to the Chinese customs, Indonesian data and SMM survey results, as of early November, Indonesia has exported to the nickel ore 3.2 million wet tons, November-December is expected to export volume of 1.4018 billion wet tons. SMM predicts that the number of Indonesian nickel ore exports to China in 2017 is between 4.605 billion wet tons. In addition, the Indonesian customs in the name of the iron ore export of low nickel ore to China in the year or 801 million wet tons, that is, the total export volume of 5.406 billion wet tons. Indonesia exported to China in 2018 or about 3 times times this year, accounting for about 40% of the total demand for nickel ore in the country. At the same time, the Philippines to the domestic nickel ore volume decline, according to SMM research, Philippine nickel ore export mainly decline or ni1.3-1.4% grade of low-grade nickel ore. 3, China Minmetals Group's five mineral Resources announced recently, its own Dugar River Zinc mine project officially completed and put into production. It is reported that the Dugar River Zinc mine by MMG wholly owned and management, with 65 million tons of zinc ore resources, zinc average grade of 12%, and leaded, silver and other secondary production resources, is the world's largest known scale, one of the highest grade of zinc ore. The project uses underground mining and conventional flotation process, the design of the annual production capacity of 1.7 million tons, an annual output of more than 170,000 tons of zinc, service life of more than 25 years, after production will enter the world's top ten zinc ore ranks.
Financial sector
1, the United States three major stock indexes vary, the Dow and S & P fell two days. The Dow fell 0.17% to 23422.21. The charge rose 0.01% to 6750.94. S & P fell 0.09% to 2582.3. This week, the Dow fell 0.5%, and it fell 0.2%, and S & P fell 0.21%. The Dow has ended its eight-week rally. 2, US President Trump: The United States has not been treated fairly by the WTO; The US will stick to fair and equal trade policy from now on, and will not blame China and other countries for the trade deficit, and will make bilateral trade agreements with all Indian Ocean-Pacific (601099, share) partners. 3, economic reference: it is reported that the Shanghai city has been the construction of free trade port program submitted to the relevant national ministries to solicit views. Compared with the FTA, free trade port is expected to make a new breakthrough in the liberalization of the first line (frontier), will be abolished or the maximum degree of simplification of the trade control measures for the goods in the region, is expected to achieve no customs clearance, duty-free, re-export trade is not restricted. In addition, offshore industries, such as international finance leasing, will also be a bright spot for Shanghai's free trade port. 4, according to the Chinese Business newspaper (blog, Weibo), real estate enterprises credit debt issuance experienced the first two years after the blowout, the beginning of this year in the market was silent. Now, the funding approach is being returned to active. Analysts pointed out that since March this year, real estate credit debt financing in the context of the tightening of the housing market has warmed up, real estate credit debt issuance of limited restart is worthy of concern. 5, October national general public budget income 1.6234 trillion yuan, year-on-year growth 5.4%; October national general public budget expenditure 1.1122 trillion yuan, year-on-year decline 8%; October, stamp duty 16.2 billion yuan, year-on-year growth 13.1%, of which, the securities transaction stamp duty 6.2 billion yuan, year-on-year decline 1.9%.