Industry perspective (2022.2.282022.3.4)
The global supply of iron has been impacted recently. Russia and Ukraine are both large exporters of finished steel / semi-finished products / iron ore. the external supply of the two countries has been blocked periodically. Overseas buyers are looking for alternative supply in the global market, pushing up the price of black products. In addition, the fiscal and tax standardization of China's scrap industry chain has been implemented since March. The arrival of scrap in steel enterprises fell this week, and the supply was also affected to some extent. In terms of demand, the average daily turnover recovers rapidly. Of course, there may be speculative demand. How to focus on the real demand in the peak season and the data in the next two weeks. In the short term, the contraction of iron supply caused by emergencies may still dominate the black commodity market in March. At the same time, the demand side will also enter the stage of testing the effect of steady growth and pay attention to the changes of demand data. In the medium term, the industry may still face demand side uncertainty. Focus on the growing new material industries and companies Zhejiang Yongjin Metal Technology Co.Ltd(603995) , Zhangjiagang Guangda Special Material Co.Ltd(688186) , Fushun Special Steel Co.Ltd(600399) , Zhejiang Jiuli Hi-Tech Metals Co.Ltd(002318) , Yongxing Special Materials Technology Co.Ltd(002756) , etc.
Risk tip: the sharp decline of macro economy leads to pressure on demand; The pressure at the supply end continues to increase.
