Last week, China's ** market monitoring center industrial products index rebounded slightly. From the week of July 31, the CIFI index gradually stabilized. At the close of 642.76 on the day of July 31, the highest level of the week rushed to 653.83, the lowest reached 6362.16, and the week's gain was 0.89%. From the perspective of index movements, the CIFI Index will maintain its weakness in the short term. Horizon luxurious and stylish pure acrylic solid surface baths epitomise the peace and serenity that is the foundation of Europe. Their high quality sleek design and luxury materials provide a unique and magnificent centrepiece for your personal bathing sanctuary, in which to rediscover your inner self.
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On the week of July 31st, the industrial products reversed their declines and started to rebound slightly. The number of ups and downs was similar. The iron ore rebound was the strongest, with an increase of 5.01%, followed by lead, coke, glass and rebar. While methanol still maintains its decline, the decline is nearly 6%.
Recently, while other commodities in commodities are in a downward trend, the black line headed by iron ore has been extremely strong. The recent rise in iron ore is related to factors such as the expected warming of the resumption of steel production and the near-dealing of the iron ore 09 contract. In the short term, the overall atmosphere of the 1601 contract is strong, but under the background of widespread losses and end-user demand for steel mills, the ore price has risen too quickly, which is not conducive to the recovery of profit margins of steel mills. The risk of falling ore prices will increase.
Although Lon Lead recorded a technical oversold bounce at the beginning of last week, he quickly gave up his gains and received a cross star. As the lead shrinks and the bulls leave the market with no intentions, this week will continue to test the previous lows of $1670-1680/ton. Shanghai Lead’s main 1510 contract rose staggeringly, but did not follow Lun’s lead correction after the rise, and the Shanghai-Luxury ratio rose to a record high of 7.6. Judging from the disk, the pressure on the top of Shanghai's lead at 13,000 yuan / ton is relatively large, and it is expected that this week may be back to the confluence of 12,800 yuan / ton at the same time.
The coke market as a whole maintained its stability and the market trading environment had improved, but the price was still at a low level. The port stocks have been relatively stable recently, indicating that the port shipments are relatively stable. Recently, the steel market rebounded, but the coke market is still in a low state, and the transaction status is relatively good, but the price may not rise in the short term.
Domestic spot market consolidation of float glass is dominant, spot prices in Shahe area in North China are stable, and the situation of outbound warehouses is normal. Manufacturers adopt an active strategy to speed up the delivery of their inventory. Distributors take care to take delivery of their own sales, while glass prices in East China remain stable. Market turnover was flexible; glass prices in Central China remained stable, while glass prices in South China remained stable. Technically, the glass 1509 contract oscillated upward, with the period price surpassing 850 yuan/ton first-line to lighten up, short-term showing a trend of bottoming out.
Steel prices continued to rebound slightly. In the short term, factors such as news stimulation and steel mills' production cuts have caused the pull-up caused by the supply shortage to be unsustainable. In the latter half of the week, the market has apparently experienced an increase in fatigue. The fundamentals of weak demand have not changed, and the overhaul of steel mills will help relieve short-term supply pressure. The current situation facing the steel industry is still very severe. In the off-season, prices have been pushed up due to news and there is no demand for support. It is expected that domestic steel prices will continue to fluctuate weakly.
The domestic methanol market still continues the trend of weaker decline. The crude oil market is difficult to stabilize, and the trend of the chemical market is weak. The downstream manufacturers and traders have low intentions to accept the goods. The shipping situation in the northwest region was poor, and the methanol company's inventory rebounded slightly. Downstream demand of the overall market was poor. Although some equipment was shut down for maintenance and the market supply was reduced, the crude oil in the declining market was in an unstable state of mind and the downstream enthusiasm for picking was not good. It is expected that the weakness of the methanol market in the next week will be mainly due to a slight decline.
The Fed’s rate hike is expected to push up the U.S. dollar, coupled with the weakening of risk aversion caused by the retreat of Greece’s risk. Commodities continue to be in the doldrums, and the sharp decline in prices reflects an increase in the imbalance between supply and demand for commodities. In addition, a stronger dollar will also further suppress commodity prices. In the short term, the CIFI Index will maintain its bottom shock pattern.