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Domestic Steel Price Falling Iron Ore Market Turns Downward
【Time:2019-08-12 09:04】 【Traffic:

 Domestic spot steel prices have fallen due to lower demand expectations and reduced turnover. The iron ore market has turned downward, and import prices have fallen significantly.

In the last week, the domestic spot steel price composite index closed at 141.38 points, down 1.83% in a week. Among them, the price of construction steel fell, and the average price of main specifications of thread steel varieties in the main market of China was 3866 yuan per ton, down 127 yuan per week. Hot-rolled coil prices fell, with the average market price of hot-rolled products of mainstream specifications in major markets of the country at 3784 yuan per ton and 76 yuan per week. Medium and heavy plate prices fell, the average price of the mainstream standard medium plate in the main market of China was 3913 yuan per ton, down 52 yuan per week.
Generally speaking, the decline of steel price has expanded and the turnover is poor. At present, the steel market is not optimistic about demand expectations, steel cost support is also weakening. It still takes time to rebalance between supply and demand, and it is unlikely to get rid of the disadvantaged adjustment in the short term.
The iron ore market has turned downward. According to the latest report, in the domestic mining market, prices have fallen weakly and most businesses are promoting at low prices. Import mine market prices also fell by $19.1 per ton. Although the overall arrival of imported mines has declined, most steel enterprises have slowed down their purchasing and the market sentiment is not high.
According to the analysis of relevant institutions, the domestic iron and steel industry is on the weak side recently. Although the supply of steel plants has been reduced, the social stock of steel products has been rising continuously under the drag of the continuing sluggish demand, and the pressure of shipment from manufacturers and businessmen is also increasing. However, with the alleviation of high temperature weather in various places, the downstream construction progress will be restored, and the risk of steel prices will be released after a sharp fall, which is beneficial to the stability of the steel market.
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