Domestic steel prices fell slightly iron ore market shocks finishing
Volume was light, making the current domestic spot steel prices fell slightly, the market gradually increase the pressure on the stock. Iron ore market shock consolidation, there is no big improvement.
According to the latest market report provided by China's leading steel information organization, "My Steel", the domestic spot steel price index closed at 97.05 points, down 0.72% in the week. Mid-Autumn Festival, the steel market turnover remained light, businesses continue to offer loose, in addition, the "tariff increase" message, but also makes the market wait-and-see mood resurgence, inventory pressure gradually increased. Although the coke, freight and other factors may push up the cost of the future, but before the National Day holiday market funds tight side, businesses will ship a strong, weak steel price correction.
According to the analysis, in the construction steel market, the overall price stabilized. Hangzhou, Fuzhou, Wuhan and other places a slight rise in the price of a week, while Shanghai, Guangzhou, Beijing and Tianjin and other places a week down 10 yuan to 60 yuan. In the Shanghai market, spot steel prices fell slightly in the market and the increase in inventory under the influence of poor sales, business price cut shipments.
In the sheet market, prices generally fell. Shanghai, Hangzhou, Guangzhou and other places a slight increase; Jinan, Changsha, Beijing and Tianjin and other places a week down 10 yuan to 30 yuan tons of price. Market pull will not strong, pre-holiday market funds pressure, coupled with the National Day holiday a long time, businesses want to drop as much as possible inventory. Plate prices fell slightly overall, Hefei, Guangzhou, Wuhan and other places t-week fell 10 yuan to 70 yuan. Market demand remains weak, inventory digestion is slow.
Iron ore market is no significant improvement. According to the latest report of relevant agencies, in the domestic ore market, Hebei, iron powder prices fell slightly. Recent weakness in the overall steel market, steel profitability was significantly worse, the suppression of domestic ore prices will increase. Imports of ore prices fell after the first rise, as of 22, the relevant 62% grade iron ore index closed at 56.55 US dollars per ton, up 0.25 US dollars before the Mid-Autumn Festival. Although the domestic steel "to production capacity" efforts to increase, but now the impact on the steel production is not obvious, the domestic steel blast furnace operating rate in the last 2 months of continuous recovery, the demand for iron ore is also maintained at a high Level, the port iron ore stocks decreased significantly.
Analysis of relevant institutions, since September, steel prices continued to fall, and by coal, coke and other prices, the cost of steel prices rise instead of falling, the majority of long products manufacturers have turned from surplus to deficit. In addition, the implementation of new regulations after the automobile transportation, logistics costs have increased, the cost of steel support will gradually strengthen. As long as the steel market demand is maintained at a certain level, steel prices are expected to show a strong trend of strong side finishing.