At the start of August, domestic capital markets rallied across the board. Gem Index close to a July high, nearly 240 strong stock trading limit, the market short-term emotional performance excited. By the close, the Shanghai composite index was up 1.75% at 3,368, the Shenzhen composite index was up 2.4% at 13,964, the chinext was up 2.63% at 2,869, and the Kechuang 50 index was up 7.26% , with 14 shares up more than 10% . The futures market has risen at the same time. Iron ore has surged by more than 4% , setting a new high for the year. Before the whorl is smoothed, it stands high above the 3,800 yuan integer level, reaching as high as 3,845 yuan. All other varieties have increased by more than 2% except coke. The main inflow of funds, iron ore crazy access to more than 1.1 billion funds, thread, hot volume are more than 300 million. The spot market is driven by futures, the mood is ignited, compared with the earlier period, the rising trend is strong, the market mainstream turnover is better, terminal procurement and speculation operation increased, low-priced transactions in some areas once hot. Today, there are two main factors play a leading role: one is the market's delayed reaction to the interpretation of the circular policies within the Politburo, the market did not show a special performance at the beginning of the weekend, but on Monday there was a delayed fermentation process. In addition, the CAIXIN manufacturing PMI hit a nine and a half year high of 52.8 in July, following the release of the National Bureau of Statistics of the People's Republic of China's PMI data, boosting confidence in the broader market as it gave a strong thumbs up to a future economic rebound. From the recent performance of the market, there is an obvious feature, macro-policy effects dominated + capital-driven hot market sentiment + demand expected support, followed by the stock market linkage in the strengthening. Against this background, the focus of the later market competition is whether the demand expectation will be fulfilled or falsified. If the demand side does not change too much and is released normally, then the market will still go up, and the opportunity and motivation will not stop at 3,800 yuan, on the contrary, it will be repeated in the reconfirmation of the rutting. In addition, as the month-to-month shift approaches, we should pay attention to the impact of the position and capital changes on the spot market. From today's point of view, the Black Department of a comprehensive show bald barefoot Dayang Line, the opening is the lowest point, the buyer's market dominated, there is still room above. The caveat is that varieties are already at new highs for the year, and being in this position may mean that there is not necessarily a continuous rise, or that there is not particularly much room for upward mobility, as funds may face liquidation, and judging from the main positions, the increase in air capacity is as high as more than 20,000 hands, which does not rule out the possibility of short-term surge reconfirmation, but at present, under the circumstances where demand has not been completely falsified, even the scope of retracing is limited, spot prices are slightly more likely to be higher and narrower. In terms of price, according to the monitoring data, the average price of 25mm grade 3 rebar in key cities in China today is 3,771 yuan per ton, the same as last year, which is 29 yuan higher than yesterday; the average price of 6.5 mm high line in key cities in China is 4,047 yuan, which is 28 yuan higher than yesterday; The average price of 5.5 mm hot rolled coil in key cities in China was 3,954 yuan, up 34 yuan from yesterday. The average price of 1.0 mm cold rolled coil in key cities in China was 4,388 yuan, up 37 yuan from yesterday. The average price of 20 mm medium plate in key cities in China was 3,930 yuan, $19 more than yesterday. As for raw materials, Changli 150 * 150 Carbon Billet in Tangshan area today is 3,410 yuan, which is 20 yuan higher than yesterday; the price of 61.5% AUSTRALIAN PB iron ore powder in Jingtang port is 870 yuan, which is 20 yuan higher than yesterday; the price of pre-first Grade Metallurgical Coke in Tangshan area is 1,860 yuan, flat from yesterday.