Foreign capital sweeps over 10 billion! Shanghai Stock Exchange 50 approaches the top before the stock market crash, Shanghai and Shenzhen 300 hit a new high in 5.5 years

category:Finance
 Foreign capital sweeps over 10 billion! Shanghai Stock Exchange 50 approaches the top before the stock market crash, Shanghai and Shenzhen 300 hit a new high in 5.5 years


The logic of cyclical stock strength is very simple, that is, price rise. On the one hand, as the economy recovers from the epidemic, the demand increases sharply. Compared with the strong growth of downstream industries, the growth of upstream basic cyclical industries lags behind, and the contradiction between supply and demand is prominent. On the other hand, in response to the epidemic, liquidity is injected into the world, weakening the US dollar, and increasing inflation expectations, resulting in the rise of commodities, thus driving the rise of cyclical stocks. In addition, this winters La Nina phenomenon was superimposed, and the northern resource provinces were cooling down in large areas. All localities launched emergency plans for severe weather, which led to poor transportation, intensified the supply contradiction of non-ferrous metals and coal, and further increased the price.

The continuous rise of non-ferrous metal prices also stimulated the recent strengthening of A-share nonferrous metals plate. On Monday, the nonferrous metal plate index rose 2.83% in large volume, reaching a new high in two and a half years, and trading volume reached a new high in more than five years. Hongchuang holdings, Chihong Zinc and germanium trading, Mingtai aluminum, Zhongjin Lingnan, Yuguang Gold lead and other intraday trading also rose.

According to wind data statistics, since November, financiers have purchased more than 5.2 billion yuan of non-ferrous metals by large margin, among which Ganfeng lithium, Tianqi lithium, Yunan aluminum and Hesheng mining ranked first. During the same period, Beishang capital also bought nearly 3.5 billion yuan of nonferrous metals, and Huayou cobalt, Luoyang molybdenum and tin industries also bought more than 100 million yuan.

Zhongyuan Securities said that driven by the positive fiscal and loose monetary policy, industrial metal prices rebounded rapidly to the high level in recent years, and nonferrous metals had passed the dark moment. Under the situation of capital expenditure slowdown in mining industry for several years, the speed of capacity release may be slower than the pace of economic recovery, and the price of non-ferrous metals will maintain a positive trend in 2021. It is suggested to focus on industry Metals and new energy metals.

Coal import and inventory decrease

Due to the repeated overseas epidemic situation, the import of coal decreased sharply. According to the latest data of the General Administration of customs, Chinas coal import volume in October was 13.726 million tons, 11.959 million tons lower than that of 25.685 million tons in the same period of last year, a decrease of 46.56%. Compared with 18.676 million tons in September, it decreased by 4.95 million tons and 26.5% month on month. The scale of coal import decreased rapidly for three consecutive months. From January to October, Chinas coal imports totaled 253.155 million tons, with a cumulative decrease of 8.3%, which was larger than that of 4.4% from January to September.

According to the latest statistics of China Coal Industry Association, as of the end of October, coal enterprises had stored 61 million tons of coal, a decrease of 4.3% on a month on month basis; 57.75 million tons of coal were stored in major ports of China, with a decrease of 6.37 million tons or 9.9% on a month on month basis; 27.76 million tons of coal were stored in northern ports, with a decrease of 2.42 million tons or 8% on a month on month basis; and 29.99 million tons of coal were stored in southern ports, with a decrease of 3.95 million tons or 11.6% on a month on month basis.

Under the influence of import and inventory decline, winter heating and coal demand peak, steam coal has increased by nearly 30% since the low point, coking coal has increased by more than 30%, and coke has increased by more than 60%. Affected by the price rise, coal stocks have also strengthened frequently recently. On Monday, the plate index soared by 5.12%, leading the two cities to rise, and the trading volume greatly increased by more than one time. Zhengzhou coal power, Datong coal industry, Xishan coal power and Yanzhou coal industry were up and down. Xishan Coal and power after the dragon and tiger list shows that Shenzhen Stock connect exclusive seats at the same time to buy one and sell three, respectively bought 94.06 million yuan, sold 49.84 million yuan, and bought 44.22 million yuan net. The purchase of seats for special institutions was 4.43 million yuan. One is also a special seat for institutions, with 234 million yuan sold. Societe Generale Securities said that on the supply side, the blue sky defense war began, and at the same time, Shanxi and Shaanxi provinces issued a blizzard warning, and the two factors superimposed, supply and transportation will continue to be tense. In terms of demand, a number of economic data continued the recovery process, and coal demand entered a seasonal Pro cycle. It is expected that the coal price strength will maintain until the end of the year. Source: editor in charge of E Company: Zhong Qiming_ NF5619

Under the influence of import and inventory decline, winter heating and coal demand peak, steam coal has increased by nearly 30% since the low point, coking coal has increased by more than 30%, and coke has increased by more than 60%. Affected by the price rise, coal stocks have also strengthened frequently recently. On Monday, the plate index soared by 5.12%, leading the two cities to rise, and the trading volume greatly increased by more than one time. Zhengzhou coal power, Datong coal industry, Xishan coal power and Yanzhou coal industry were up and down.

Xishan Coal and power after the dragon and tiger list shows that Shenzhen Stock connect exclusive seats at the same time to buy one and sell three, respectively bought 94.06 million yuan, sold 49.84 million yuan, and bought 44.22 million yuan net. The purchase of seats for special institutions was 4.43 million yuan. One is also a special seat for institutions, with 234 million yuan sold.

Societe Generale Securities said that on the supply side, the blue sky defense war began, and at the same time, Shanxi and Shaanxi provinces issued a blizzard warning, and the two factors superimposed, supply and transportation will continue to be tense. In terms of demand, a number of economic data continued the recovery process, and coal demand entered a seasonal Pro cycle. It is expected that the coal price strength will maintain until the end of the year.