Unhidea explains global investment research, selected interviews and market briefs. Explore source attribution, dates, key assumptions and the reasoning behind each article.
In the 10 days through 20 October, China’s daily crude steel output was equivalent to an annualized 865 million tonnes, down 2% from the preceding 10 days. Iron ore prices remain low, while lower freight rates have partly improved miners’ free-on-board prices.
J.P. Morgan ·
Guosheng Securities is optimistic about demand for IMU data collection driven by robot training, while Changjiang Securities focuses on steelmakers’ cost advantages. Competition for the AI device interface is intensifying, while lower screen production costs are shifting value toward IP and distribution.
Guosheng Securities, Changjiang Securities, China Merchants Securities, Soochow Securities ·
Citi’s tracking data show that in the week ended 22 October, apparent steel consumption exceeded production and inventories continued to decline. Cumulative consumption nevertheless remained lower year on year, while hot-rolled and cold-rolled inventories were also above year-earlier levels, indicating uneven improvement across products.
Citi ·
美国钢铁批准30亿美元改造项目，Reliance三季度利润翻倍、预计四季度非住宅需求稳健；但建筑设计指标仍收缩，废钢采购价格继续承压上行。
J.P. Morgan ·
摩根士丹利周度数据显示，长材、板材表观消费分别环比下降8.3%和2.4%，钢材贸易商与钢厂库存同步减少；铁矿石则呈现钢厂库存下降、港口库存增加的分化。
Morgan Stanley ·
Nucor热卷现货报价每短吨上调15美元，Cliffs三季度营收同比增长18%。报告预计四季度提价继续支撑利润，但出货季节性转弱、成本上升；中国钢厂则因需求疲弱缺乏增产动力。
J.P. Morgan ·
