The steel industry contradictions are still accumulating, and demand expectations are expected to boost the market

Golden Ten Futures on May 6, the main contract of threads fluctuated upward, and the overnight market rose by nearly 1%. Caixin Futures said that the cost rose, the profit per ton of steel narrowed again, and the profit of steel mills was at a low level in the upstream and downstream of the industrial chain as a whole; the threaded disk was raised again, the hot coil basis maintained a small lift, and the screw coil basis was slightly lower; the steel mill's disk profit was neutral. Overall, < b > the spot valuation of steel represented by threads was slightly lower and the disk was slightly higher. From the perspective of the industrial chain, the upstream and downstream profits of the black chain may once again face reshaping (the profit of raw material coal coke rises, and the profit of tons of steel decreases); from the perspective of steel supply and demand, the increase in steel supply and demand decreases, the decline rate of inventory has narrowed, and the industrial driving margin has weakened; from the perspective of expectations, real estate "dewarehousing", special project bond issuance has accelerated, steel exports may remain high, and demand expectations have been boosted. Overall, the reality margin has weakened, demand expectations have been boosted, and the short-term disk may be waiting for the further fermentation of industrial contradictions in the strong shock. From the perspective of operation ideas, the thread 10 contract has significantly increased its position to break through the previous (3630, 3710) shock range, < b > the short-term thread 10 contract may maintain a strong shock operation in the (3700, 3780) range .