物產中大(600704.SH):二季度鐵礦石供需基本面或將逐步改善,但預計將繼續以累庫為主
格隆匯5月11日丨物產中大(600704.SH)在業績説明會上表示,預計二季度大宗商品價格仍有分化,具體分析如下:鐵礦石:二季度鐵礦石供需基本面或將逐步改善,但預計將繼續以累庫為主。價格上,均值或將低於一季度,隨着港口庫存下降以及礦價回彈等影響,鐵礦石價格可能表現反彈趨勢。鋼材:二季度產業鏈矛盾依然存在,但存在邊際改善情形,鋼材期貨價格築底可能性較大,關鍵點在於需求的恢復,預計行情跟隨需求震盪波動。煤炭:二季度國內產能和需求升幅相對穩定,國內煤炭價格或將震盪運行。從進口來看,進口煤炭需求走弱,進口利潤較差,因此二季度進口煤炭數量較難延續一季度的同比增長。化工:因需求端基本面偏弱,總體呈震盪走弱態勢。大宗供應鏈行業已從最初的“賣產品”迭代升級成“賣服務”,同時運用期貨市場套期保值工具進行價格管理,已經在相當程度上弱化了價格主導的週期性因素,轉型成為智慧供應鏈集成服務商,本身就是去週期化轉型。
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