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Domestic steel prices have risen from rising to falling, iron ore market is rising steadily

  • Source:xinhua net
  • Release on:2019-02-16
Domestic spot steel prices have turned from rising to falling, and the contract has shrunk. The market’s “short-selling” sentiment has increased. The iron ore market has been rising steadily, and the level of imported minerals in the port has risen and fallen.

In the past week, the domestic spot steel price composite index closed at 141.48 points, down 1.39% in the week. Specifically, affected by the volatility of the relevant futures market, the spot steel market began to decline, the market bearish sentiment increased, and the trading volume contracted. Considering the weakening of demand in the later period and the tightening of funds at the end of the year, the merchants mainly focus on active shipments in market operations.

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According to analysis, in the construction steel market, the price drop is more obvious. The average price of mainstream rebar varieties in the main markets of the country is 3,977 yuan per ton, down 73 yuan per week. From the latest published inventory data, social inventories continue to accumulate, and steel mill inventories have risen from the downside, indicating that market demand is below expectations.

In the board market, prices are generally down. The price of hot-rolled coils fell slightly. The average price of hot-rolled products in mainstream markets in the country was 3,767 yuan per ton, down 49 yuan per week. The price of medium and heavy plates fell slightly. The average price of the mainstream specifications of the main market in the country was 3,847 yuan per ton, down 23 yuan per week. At present, there are some shortages of some specifications in the market, and there is some support for the price. However, the weakening of demand and the existence of other uncertain factors still determine the weak characteristics of the steel market.

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The iron ore market has stabilized. According to the latest report of “Xiben Shinkansen”, in the domestic mining market, the domestic iron fines market in December has been rising steadily, the supply of fine iron powder is at a low level, and the ore traders are reluctant to sell. Imported iron ore prices rose in succession in December. As of December 27, the price of imported iron ore at 62% grade was US$72.40 per ton, up US$6.95 month-on-month. Overall, in the first half of December, the import volume of imported mines remained low, and the port ore stocks continued to decline. In the second half of the month, the volume of imported mines increased slightly, and the inventory of port ore increased.

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According to the analysis of relevant institutions, the current domestic steel market is in a stage of weak consolidation. On the one hand, the demand for terminals is shrinking, and the price of steel is lacking in power. On the other hand, steel enterprises are quite positive, social stocks are at a relatively low level, and steel prices are certain. Support.