Caixin Futures: Most ferrous metals show divergent trends, with coke preparing for a fifth round of price increases

汇通财经2026/05/26 12:34

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⑴ Steel: Low-level oscillation, valuation declines. Current steel demand lacks sufficient drivers, supply remains high, and the overall supply-demand outlook is weak. For the October rebar contract, the top twenty positions show a greater reduction in long positions compared to short positions, while for the October hot-rolled coil contract, the reduction in short positions is more pronounced. Technically, the October rebar contract switched from rising to falling, breaking below both the 40-day and 60-day moving averages in one move; a short-term weak adjustment may continue. In terms of valuation, the October rebar contract is already below the cost of East China long-process rebar and independent electric arc furnace valley electricity costs. The futures valuation leans towards neutral to low, and the short-term upside and downside space may both be limited.⑵ Iron ore: Oscillating at high levels, valuation shows clear support. On the supply side, iron ore shipments continue to rise, and as the end of the Australian fiscal year in June approaches, there is demand for shipment boosts; on the demand side, hot metal output remains high, supporting spot prices. Technically, the September contract fell with reduced positions, with attention needed on the 60-day moving average for support; in terms of funds, both long and short positions among the top twenty holders continue to decrease, with long reductions being larger. In the short term, iron ore valuation may move slightly lower, but as long as hot metal output does not decline significantly, downside space remains limited.⑶ Coking coal: Oscillating. Although some suspended mines have resumed production, safety supervision has tightened and middlemen are reluctant to sell, so short-term supply shortages are hard to address, and coking coal spot prices continue to run strong. In terms of funds, both long and short positions among the top twenty holders continue to be reduced, with the reduction in short positions being larger. Technically, the September coking coal contract intertwines position-reduction declines with position-reduction rebounds; short-term support is referenced at 1,225 yuan/ton, and upper resistance is referenced at 1,288 yuan/ton. With safety supervision and supply guarantees in ongoing contention and June being the national safety production month in addition to power plant restocking, coal still has upward drivers, but caution is needed as thermal coal prices have already exceeded the policy guidance price ceiling. With the peak summer consumption period approaching, regulatory intervention may come.⑷ Coke: Valuation shows clear support. A sharp increase in raw material prices has pushed up the immediate costs for coking plants, with some plants passively reducing output and coke production declining at the margins. Hot metal output remains high, with strong rigid demand support. With raw material costs surging, coking plants are already planning a fifth round of price hikes. After the fourth round of price increases is fully implemented, the corresponding warehouse receipt cost is 1,880 yuan/ton. With expectations for further increases, valuation support is gradually emerging in the market.⑸ Silico-manganese: Oscillating. Manganese ore shipments continue to decline, port inventories have shifted from increasing to decreasing, producers' operating rates have picked up slightly but remain at a low level, bargaining for lower prices in manganese ore procurement is pronounced, and overall supply and demand remains weak and stable. In the short term, prices may fluctuate mainly following the movement of raw coal. Technically, the July silico-manganese contract drops with position reduction, with support below at the 20-day moving average and upper resistance possibly at the 6,100 yuan whole-number mark.

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October 9 – Leerink Partners stated that, ahead of the third-quarter earnings reports, it remains cautious on the medical technology sector and pointed out that the short-term market environment is “somewhat uncertain.” The firm noted increasing competition in some markets, including the cardiac devices and diabetes care sectors; uncertainty in surgical volumes amid rising costs; weak consumer confidence; and pressure on hospital budgets due to higher interest rates. “We believe that even if third-quarter results are positive, they may be overshadowed by ongoing market concerns about profitability and growth prospects for 2027 and beyond,” the broker said. The firm believes that positive factors for specific companies could help Medtronic (MDT.N) and Tandem Diabetes Care (TNDM.O) outperform the broader industry during these sector-wide headwinds. The broker said it remains most cautious on PROCEPT BioRobotics (PRCT.O) and Insulet (PODD.O), as a slowdown in adoption and intensifying competition may lead to lowered expectations for 2027. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translation may contain errors or fail to capture the required context, Reuters does not guarantee the accuracy of automated translation texts, and they are provided merely for readers’ convenience. Reuters accepts no liability for any damage or loss resulting from the use of automated translation features.)

路透社•2026/10/09 13:06

EUR/USD Price Forecast: Rallies fail above 1.1200 amid high Oil prices, debt woes

FXStreet•2026/10/09 12:30

The strongest growth outlook in over two years is approaching! US medical device stocks still need to endure another sluggish earnings season

The third-quarter profit growth of medical device companies is expected to be only 4.8%, but it is projected to accelerate to 13% in the first quarter of next year, marking the strongest performance in over two years. However, policy uncertainties and product recalls have dampened confidence, and the market is awaiting a recovery by 2027.

智通财经•2026/10/09 12:23

BUZZ—US Stock Market Dynamics: SpaceX, Humana, Delta Air Lines

Workspace search string for querying individual stock trends: STXBZ "Today's Outlook" newsletter: https://refini.tv/3LI4BU7 "Morning News Brief": https://refini.tv/3dKUyB8 Reuters, October 9 — On Friday, U.S. stock index futures rose as oil prices retreated due to easing concerns over Middle East supply. However, telecom stocks remained under pressure as SpaceX's acquisition of spectrum sparked competition concerns across the telecom sector. - **T-Mobile US Inc (TMUS.O):** Hot topic — European telecom stocks fell after the SpaceX spectrum deal. [nL6N45V0EH] - **Space Exploration Technologies Corp (SPCX.O):** Hot topic — Shares rose after reaching an agreement to acquire a nationwide low-band spectrum portfolio. [nL4N45V0KP] - **Humana Inc (HUM.N):** Hot topic — Shares rose after its “Medicare Advantage” rating was raised. [nL4N45V0LU] - **Definium Therapeutics Inc (DFTX.O):** Market buzz — Shares increased after JPMorgan gave its LSD-based therapy an “Overweight” rating. [nL4N45V0NH] - **UnitedHealth Group Inc (UNH.N):** Market movement — TD Cowen lowered its target price ahead of UnitedHealth’s Q3 financial report. [nL4N45V0OU] - **Newmont Corporation (NEM.N):** - **Gold Fields Ltd (GFI.N):** - **Harmony Gold Mining Company Limited (HMY.N):** - **AngloGold Ashanti Ltd (AU.N):** Market movement — Gold miners’ shares rose in line with a slight rise in gold prices driven by a weaker dollar. [nL4N45V0PG] - **Delta Air Lines Inc (DAL.N):** Market flash — Shares fell after sharply lowering full-year profit forecast. [nL4N45V0RA] - **Apple Inc (AAPL.O):** Hot topic — Shares declined amid reports of iPhone production cuts. [nL4N45V0SB] - **Crescent Energy Company (CRGY.N):** Hot topic — Shares fell after raising 1 billion USD to acquire Devon Energy. [nL6N45V0J4] (For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. As automated translations may contain errors or may not capture the necessary context, Reuters does not guarantee the accuracy of the automated translation text, which is provided solely for readers’ convenience. Reuters accepts no liability for any damage or loss caused by the use of this function.)

路透社•2026/10/09 12:08