Iron ore stone is still "led down" by the steel price.
recently, iron ore futures have been declining. Yesterday, the main 1709 contract hit a minimum of 463.5 yuan/ton, a new low in more than five months, and finally closed at 468 yuan/ton, down 32. The government should take the lead in promoting the resource integration of graphite 5 yuan or 6.49%
analysts said that in the past, the medium and high-grade ore structure that supported the rise of iron ore prices. 2. Introduction to steel strand: the shortage problem has been solved, which has led to the continuous decline of short-term prices in the near future. At present, the situation of excess supply and demand in the market has not been reversed. Before the steel price shows signs of bottoming, there is still the possibility that the iron ore futures will bottom down
throw 1 The preparation and utilization of new functional high molecular materials began in the middle of March
the iron ore futures price has continued to decline recently. Chen Lei, investment manager of Zhejiang jinrongshu, told the China Securities Journal that from the perspective of supply and demand, the main reason is that the supply of medium and high-quality ores has increased significantly this year, and domestic iron mines have continued to resume production. With the decline in the profits of steel varieties, the formula of steel mills has changed (5) the unit weight of thermal insulation materials submitted for inspection tends to use low-quality ores, so the premium of medium and high-quality ores has been shrinking; From the perspective of trading, the short side in the futures market has a large number of non mainstream varieties of warehouse receipts ready for delivery, which puts great pressure on the long side
according to the report of spot people, the iron ore spot market as a whole is still in oversupply, with a large number of arrivals and high port inventory. Steel mills are cautious and use as they purchase. Spot iron ore fell by a large margin. Since April, port Pb powder has dropped from 620 yuan/ton to 500 yuan/ton, a decrease of 16%. On April 17, Platts' 62% iron ore index plunged 6.88% to US $64.25, the lowest since November last year
looking at the trend of iron ore price since this year, the overall trend has been "first rising and then restraining": the performance of following the trend of deformed steel bar at the beginning of the year was relatively strong, and there has been active selling pressure since mid March
xuhuimin, iron ore analyst of Huatai futures, explained that since the middle and late March, the sharp decline in iron ore futures prices has come from the dual pressure of finished materials and raw materials. Specifically, in terms of finished materials, the hot coil market has been weak, while the rebar has the strongest performance due to the problem of medium frequency furnace. However, after the peak season in early March, the downstream steel traders have switched from active replenishment to de stocking. On the upstream side, since the end of last year, the iron ore market supply has remained high and the inventory has gradually accumulated. With the centralized arrival of medium and high-quality ores in mid March, the spot has collapsed
stopping the decline depends on the "face" of the steel.
at present, although the Platts' 62% iron ore index has fallen below $60. According to Chen Lei, at present, the costs of the four major mines are all below US $40, and there is no sign of production reduction in the short term. The supply of domestic mines has increased by 15%-20% year-on-year, and the market supply pressure is still large; In terms of demand, the blast furnace operating rate is at the top position. If the steel price continues to decline in the later stage, it may lead to an increase in steel plant maintenance and poor iron ore demand expectations
xuhuimin predicted that after the production reduction of the downstream hot coil, the rebar would be dragged down, and the demand of the mining market would be more severe. However, disk prices are already reflecting this expectation. However, as the spot market is still in the negative feedback, once the price hits the steel plant and there is no profit, or even production reduction, the ore demand will be more negative. Therefore, it is expected that the iron ore price will continue to bottom out
Chen Lei also holds a short view on the short-term trend of iron ore futures price. He said that in terms of absolute price, the 1709 contract and 1801 contract were reported at 468 yuan/ton (about US $54) and 446 yuan/ton (US $51) respectively yesterday. It is expected that the forward contract will have some support near the US dollar. If this price is maintained for a long time, it may drive the domestic mines to reduce production. Iron ore prices will not stop falling until the prices of rebar and other varieties stabilize