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The downward trend of iron ore prices is getting stronger. The new quotations of the three major mines have dropped slightly.
On the one hand, the iron ore port stocks are high, and on the other side, the three major mines have slightly reduced the price of iron ore from Chinese steel mills by one to two dollars in the third quarter. The downward trend of iron ore prices is gradually increasing. The "Economic Information Daily" reporter learned from a high-level steel mill in Huazhong on May 31 that many domestic steel mills have received iron ore prices for Rio Tinto, BHP Billiton and Vale in the third quarter. “Basically and in the second quarter, the price was flat, slightly lowered by 1 to 2 US dollars. Rio Tinto 62% of the BP powder price in the third quarter was about 177 US dollars / ton, Vale's third quarter Karagas grade 66% powder The land price of the mine agreement mine is about 198 US dollars / dry ton," said the person to the Economic Information Daily. BHP Billiton, which uses a monthly pricing model, gave steel mills a quotation of about $175/ton in June. Compared with the sharp increase in the previous quarter, the three major mines seem to be cooling down the “crazy stoneâ€, which gives the steel mill a chance to breathe: on the one hand, the price of iron ore begins to fall gradually, on the other hand, the price of steel There has been no decline, and the operating conditions of steel mills have naturally eased. A deputy general manager of a large steel mill in North China said in an interview with the Economic Information Daily. Steel mills have become more cautious in iron ore procurement because of the bearish price of later iron ore. On the one hand, iron ore stocks are minimized while meeting daily production needs, and on the other hand, iron ore has been basically stopped. There are indications that market signals for iron ore decline are gradually increasing. According to the data of the United Metals, the price of the 63.5 printing powder on the outer disk of May 30 was between US$178 and US$180/tonne. It was down by $10 from the beginning of May, but the market was still very deserted. The inventory of the port has once again confirmed the status quo of "low demand for iron ore." The “Xinhua-China Iron Ore Price Index†shows that as of May 30, China's port iron ore inventory (25 ports along the coast) was 93.07 million tons, an increase of 610,000 tons from last week and an increase of 0.66% from the previous month. “The global supply of iron ore has begun to stabilize.†Xu Xiangchun, director of the information network of my steel network, said in an interview with the “Economic Information Daily†that in addition to the three major mines, emerging economies from Iran, Venezuela, Russia and Southeast Asia The supply of iron ore is increasing, and the development rate of domestic mines is also accelerating. He said that in view of various factors, the price of imported iron ore in China will not be adjusted sharply in the third quarter. The situation of low turnover is difficult to reverse, which is a good thing for steel mills. It is worth noting that the high output of steel is still a "life gate" that restricts the profitability of steel mills in the later period. Xu Xiangchun pointed out that from the market demand in the third and fourth quarters, as new real estate projects such as affordable housing will be gradually implemented, the demand for steel later will also rise, plus the peak of electricity consumption in the steel industry. The “limitation of electricity†that will be faced after the arrival will also objectively reduce some of the production capacity and will support the steel price. Xu Xiangchun said, however, as the steel mill's operating conditions improve, the enthusiasm for steel production will also be "ignited", and various steel mills will inevitably release capacity. This will not only lead to an oversupply situation, but also lead to a fall in steel prices. The production capacity will bring about the demand for iron ore, coking coal and other resources, which will in turn push up the price of raw materials such as iron ore. Statistics show that the average daily output of steel in April reached 1.968 million tons, equivalent to an annual output of about 718 million tons. According to forecasts, the annual demand for steel in China should be 650 million tons, which means that nearly 70 million tons of steel. Production capacity will exceed demand.