Under the background that the Prime Minister of the State Council, the national development and Reform Commission, the state owned assets supervision and Administration Commission and CCTV have paid close attention to the rise in the price of bulk commodities, the black line still has such a "no martial morality" rise, and the spot steel price has not dropped much. Behind the seemingly caprice, it is still due to the following driving factors that have not fundamentally changed:
1. The world's central bank's release of quantitative easing is unprecedented
In 2020, the sudden epidemic will disrupt the pace of the world. In order to keep their economies from collapsing, central banks have tacitly expanded the base currency at an unprecedented speed.
The world's four largest banks, the Federal Reserve, the Bank of England, the Bank of Japan and the European Central Bank, have invested $5.6 trillion (about 36 trillion yuan) in quantitative easing in 2020, according to data from Bloomberg
More hot money from the US dollar and euro is bound to flow to all parts of the world. This is how a magic capital market begins.
2. Hot money flows into commodity market at home and abroad
Global capital is a huge pool of capital, and no large economy can stand alone.
Compared with other countries, China's epidemic situation is relatively well controlled. At present, China is the only major economy in the world to achieve positive economic growth. Therefore, there is bound to be a large number of foreign capital flowing into the domestic capital market to avoid risks.
And China's own "smart money" is also actively entering. They have a keen sense of smell, and where they flow, they tend to soar. At the national development and Reform Commission's press conference in April, spokesman Meng Wei also made it clear that the rise in commodity prices this year includes liquidity and investment speculation and other factors.
3. Fierce environmental protection and production restriction, boosting the tide of price rise
In addition to the global quantitative easing, hot money speculation at home and abroad and other factors, environmental protection and production restriction is also one of the driving forces that can not be ignored.
Tangshan Local steel enterprises related people told reporters that on March 11, the Ministry of ecological environment did not say hello, directly checked Tangshan steel enterprises, illegal records were handed over to the public security department, which has a strong deterrent effect on local steel enterprises.
"At present, Tangshan environmental protection production restriction is very strict, blast furnace is pickling and limiting production, all aspects of the data terminal will be monitored, steel enterprises are nervous, at present, no enterprise dares to relax, dare to do fake in environmental protection." he said, "the market has no illusions about the relaxation of production restriction, and the production restriction area may be further expanded in May."
At the end of the paper: Although the state attaches great importance to the continuous upward trend of commodity prices, it has made a statement to strengthen the regulation of the raw material market and ease the cost pressure of enterprises. However, the specific implementation measures have not yet been introduced, and there is no sign of slowing down of the strength of raw materials before the short-term supply is substantially improved.
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