New Lake Futures: Policy Vacuum Period, Iron Ore Shock Operation

Yesterday even iron shock operation, closing 928, the whole day down 0.75%. On the news, market rumors that some Jiangsu steel mills began to reduce production due to inspection inspections, and the thread plate began to rebound in the afternoon, iron ore was affected by production cuts, and the trend was weak. SMM maintenance data show that the impact of blast furnace maintenance increased by 25,000 tons to 1.71 million tons this week, the overhaul increment is limited, the impact on the fundamentals of the iron ore is small, the actual production reduction impact remains to be seen. In summary, the trading logic at the end of the year focuses on macro expectations, the recent stage is in the meeting, the policy vacuum period, the market lacks a new expected logic drive after the Central Economic Work Conference, there is no obvious contradiction in the superimposed iron ore fundamentals, and the mine price is mainly looking for support in the downward shock.