Xinhua News Agency, Shanghai, November 4Title: Domestic steel prices fell slightly, the iron ore market stabilized and weakened
Xinhua News Agency reporter Li Rong
Thanks to the weakening of the market mentality, domestic spot steel prices have begun to rise, but the decline is not too great. The iron ore market is stable and weak, and the confidence of miners in the market is not enough.
According to the latest market report by the "My Steel" National Steel Information Agency, the domestic spot-steel price index fell 162.11 points last week, down 0.76% this week. Recently, the affected futures markets have fallen sharply and the market mentality has begun to weaken. Spot steel prices fell overall, but the trend between varieties was slightly different. The total turnover of the steel market was weak, but turnover slightly increased on the weekend.
According to an analysis, the price of construction in the construction sector is tight. In the main markets of the country, the average of the mainstream rebar varieties is 4 722 yuan per ton, which is basically the same on weekdays. From the most recent published inventory data, the entire record fell further, but the decline was narrowed.
Prices on the board market were generally reduced. The price of hot rolled coils has fallen relatively, the average price of hot rolled products on national mainstream markets is 4154 yuan per ton, down 84 yuan per week. The price of medium and heavy plates declined slightly, while the average of the main standards in the main markets of the country was 4335 yuan per ton, per week under 38 yuan. Despite the contradictions of the steel market, the pessimism of the market has grown.
The iron ore market is stable and weak. According to the latest report by "Xiben Shinkansen", domestic mining prices remained stable on the domestic mining market, and some mining companies carried out limited mining for environmental reasons, but some steel companies also reduced their demand for iron damages. Prices of imported ores decreased sequentially, with the first import of iron ore 62%, at $ 74.55 / ton, $ 1.95 a week per week. At present, port outage has fallen, but miners' confidence in market prospects is not enough.
Based on an analysis of November's entry by the institutions concerned, comprehensive approaches to the management of the atmosphere in the autumn and winter will be undertaken, the masses of steel mills will be reduced and the stocks of society and steel will remain low. At the same time, most merchant mentality is still cautious. In the short term, the steel market is dominated by shocks and weak operations.