Resource Stock Review ---- July 13
On July 13, most of the domestic commodity futures markets closed up, with precious metals rising more than 3%; most basic metals rose more than 2%, and international copper rose more than 1%; most energy chemicals rose, styrene rose more than 2%, low-sulphur fuel oil and soda ash rose more than 1%; most black products rose, iron ore and coking coal rose more than 1%; agricultural products had mixed ups and downs. Vegetable meal, vegetable oil, sugar rose more than 1%, and pig, soybean, and soybean oil fell more than 1%.
Iron ore news:
Thanks to strong demand from domestic steel manufacturers, China's iron ore imports in June increased 7.4% over the same period last year. China imported 95.518 million tons of iron ore and concentrate in June, compared to 96.175 million tons in May. Analysts said that despite the seasonal slowdown in downstream steel demand, Chinese steel manufacturers maintained relatively high operating rates last month to produce more steel products and generate more cash flow, and the relatively low raw material inventories of steel mills also provided some support for the increase in iron ore imports last month.
Iron ore news:
Thanks to strong demand from domestic steel manufacturers, China's iron ore imports in June increased 7.4% over the same period last year. China imported 95.518 million tons of iron ore and concentrate in June, compared to 96.175 million tons in May. Analysts said that despite the seasonal slowdown in downstream steel demand, Chinese steel manufacturers maintained relatively high operating rates last month to produce more steel products and generate more cash flow, and the relatively low raw material inventories of steel mills also provided some support for the increase in iron ore imports last month.
$SSIF DCE Iron Ore Futures Index ETF (03047.HK)$ $SSIF DCE Iron Ore Futures Index ETF (09047.HK)$
Offer update:
Shanshen Iron Ore (3047.HK) closed at HK$17.68, up 0.86%
Cumulative return: 1 week: 0.74% January: 2.97% March: 4% June: 1.09% Since listing: 137.32%
Status of the Hong Kong Resources Stock:
US inflation cooled down beyond expectations in June, and the Federal Reserve's interest rate hike process gradually came to an end. July may be the last time to raise interest rates. Affected by this, the US dollar index declined, and futures such as gold surged. Overnight, COMEX's August gold futures closed up 1.27% to 1961.70 US dollars/ounce; international copper prices continued to rise and hit a three-week high.
Offer update:
Shanshen Iron Ore (3047.HK) closed at HK$17.68, up 0.86%
Cumulative return: 1 week: 0.74% January: 2.97% March: 4% June: 1.09% Since listing: 137.32%
Status of the Hong Kong Resources Stock:
US inflation cooled down beyond expectations in June, and the Federal Reserve's interest rate hike process gradually came to an end. July may be the last time to raise interest rates. Affected by this, the US dollar index declined, and futures such as gold surged. Overnight, COMEX's August gold futures closed up 1.27% to 1961.70 US dollars/ounce; international copper prices continued to rise and hit a three-week high.
$ZIJIN MINING (02899.HK)$ $ZHAOJIN MINING (01818.HK)$ $SD GOLD (01787.HK)$
Oil stocks have also been active. According to news, US inflation is slowing down, easing market concerns about the Federal Reserve's interest rate hike, and international oil prices are rising. The agency pointed out that short-term oil prices are suppressed by speculative sentiment and will eventually return to fundamentals in the long run. Although fundamentals are improving marginally, the magnitude is limited for the time being; when accumulated to a certain extent in the later stages, it may boost crude oil price valuations upward. Furthermore, the Central Committee on Comprehensive and Deepening Reform recently held its second meeting. The meeting emphasized the need to further deepen the reform of the oil and gas market system and strengthen the construction of production, supply, storage and marketing systems.
Oil stocks have also been active. According to news, US inflation is slowing down, easing market concerns about the Federal Reserve's interest rate hike, and international oil prices are rising. The agency pointed out that short-term oil prices are suppressed by speculative sentiment and will eventually return to fundamentals in the long run. Although fundamentals are improving marginally, the magnitude is limited for the time being; when accumulated to a certain extent in the later stages, it may boost crude oil price valuations upward. Furthermore, the Central Committee on Comprehensive and Deepening Reform recently held its second meeting. The meeting emphasized the need to further deepen the reform of the oil and gas market system and strengthen the construction of production, supply, storage and marketing systems.
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3047 is a team specializing in the research of commodities and smart beta. We like to exchange investment strategies.
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