galagamespolygon| Received and commented: Manganese and silicon rose by more than 5%, and consolidated shipping index rose by more than 3%

editor2024-05-27 16:52:1110Academia

At the close of noon, the main domestic futures contracts were mixed, with manganese and silicon rising more than 5%, liquefied petroleum gas (LPG) and container shipping index (European line) rising more than 3%, and styrene (EB) rising nearly 2%. In terms of decline, coking coal fell nearly 3%, while red dates, rapeseed meal, rapeseed oil, polyvinyl chloride (PVC), and bean II fell more than 1%.

galagamespolygon| Received and commented: Manganese and silicon rose by more than 5%, and consolidated shipping index rose by more than 3%

Manganese and silicon are strengthening again, paying attention to changes in corporate inventoriesgalagamespolygon!

Everbright Futures Comments: Recently, manganese and silicon have strengthened again. The main manganese and silicon contract 2409 once rose more than 5% on Monday, reaching a maximum of 9364.

Judging from the market situation, the manganese ore issue is still the focus of market attention. Although GEMCO plans to resume mining activities in June, initial production is expected to be limited and the manganese ore shortage pattern may be difficult to change. In addition, cost-side support is strong, prices of high-grade Gabonese mines continue to increase in Tianjin Port and Qinzhou Port, and manganese and silicon production costs remain high.

Fundamentally, as the profit from manganese and silicon production recovers, the company's operating rate and average daily output have rebounded, and manganese ore consumption has increased day by day. The inventory of manganese and silicon sample companies has dropped significantly for three consecutive weeks, and the shortage of inventory may push the market to strengthen again. On the demand side, downstream steel demand is strong, and output of the five major materials is rising. The production of steel mills is progressing steadily. Although hot metal output has weakened slightly month-on-month, overall growth expectations still exist. In addition, steel prices are firm, coupled with positive real estate policies, and demand is rigid.

On the whole, supply is in short supply, cost support is strong, and corporate inventories are tight. Manganese and silicon are expected to remain strong and volatile in the short term, and we should pay attention to changes in corporate inventories.

Tianfeng Securities: Pay attention to investment opportunities such as price increases for consolidated transportation, shipping, and freight forwarding

Tianfeng Securities Research News pointed out that it is concerned about investment opportunities brought by price increases in consolidated transportation, shipping, freight forwarding, container manufacturing, etc. 1. The shipping industry chain has benefited from the increase in consolidated shipping prices. Since late April, ships have been diverted, suspended, and blocked ports. Recovery of freight demand, peak seasons, and rush to transport have driven a sharp increase in freight rates. Container companies, multi-purpose shipping companies, freight forwarding companies, and container manufacturing companies in the shipping industry chain may benefit;2. Shipping: international container shipping, multi-purpose ship shipping. European and American routes are greatly affected by supply and demand, and freight rates have risen sharply, which may be transmitted to near-ocean and domestic trade routes in the future; consolidated cargo may overflow to multi-purpose ships, driving freight rates to increase;3. Freight forwarding and air freight: Consolidated freight forwarding companies benefit from price increases, and under the comprehensive logistics service model, profit per box is expected to increase; air freight benefits from the overflow of consolidated cargo, driving freight rates to increase;4. Container manufacturing: Container manufacturing benefits from the shortage of containers. Container production is expected to double and prices rebound in 2024.

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