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The price of iron ore has quietly risen again.
After the "big fall" in the previous period, the price of iron ore was "slowly up". According to the latest market report provided by the well-known steel spot trading platform “Xiben Shinkansenâ€, domestic steel supply is continuing to decrease slightly, inventory is also falling, demand release is slightly improved, and construction steel prices are also “exploratoryâ€. According to monitoring, after the steel prices in North China and South China have risen sharply, the construction steel price in the Shanghai market has also started a wave of high prices. As of the 18th, the West Index reported a price increase of 50 yuan per week at a price of 4,340 yuan per ton. At present, the price of the second-grade rebar of high-quality products in Shanghai is adjusted to 4,270 yuan, up 50 yuan a week; the price of high-grade third-grade rebar in Shanghai is adjusted to 4,480 yuan per ton, up 30 yuan a week. Some people in the market view that steel prices have risen in the off-season demand. "It is difficult to be convincing that the transaction has rebounded significantly." However, after all, inventory and output continued to fall slightly, raw material costs are quietly rebounding, and there are some “fine-tuning†signals on the funds side, which have played a certain role in the short term. The adjustment of the huge domestic steel production that “the elephant's buttocks couldn't moveâ€, in the process of the sharp fall of the previous steel price, finally made a little progress in “passiveâ€. According to the latest statistics of China Iron and Steel Association, the average daily output of crude steel in key statistics enterprises in the first ten days of November was 1,480,100 tons, which was 10.9 million tons less than the previous one. It is estimated that the average daily crude steel price in early November will be The output was 1,664,100 tons, a decrease of 52,900 tons from the previous decade, setting a new low this year. It can be seen that the steel mills are still in the situation of reducing production, and the pressure on the supply of resources in the domestic market has also been significantly reduced. However, there is one point that should be closely watched. Recently, many small and medium-sized steel mills that have stopped production and maintenance have resumed production. It is estimated that domestic crude steel output will rebound in mid-to-late November. Iron ore prices, which have just had a "rational return" sign, are quietly "want to regain lost ground." In the domestic mining market, the price of iron concentrate in Hebei has continued to rise, and the price increase has reached 40 yuan. The steel mills that had been repaired and restricted in the previous period began to resume production, and the willingness to purchase iron concentrates was increasing. In the imported spot mine market, 63.5% grade Indian powder ore is quoted at around $149 per ton, up $11 a week. After a sharp “deep drop†in October, iron ore prices rebounded rapidly in mid-November and the volume of transactions rebounded. However, some traders have indicated that the recovery of iron ore is too fast, and the market will be shaken and adjusted. Relevant institutional analysts believe that although the recent steel market demand release has a certain improvement, the overall trend is still "repeated." The inventory of construction steel in the country has been lightened for 6 consecutive weeks, and the related stocks in the Shanghai market have also seen a significant decline. Some of the rebar products have been out of stock, which has a certain supporting effect on the steel market in the short term. . Among the many factors affecting the market at present, the two factors of supply reduction and “macro-level fine-tuning†slightly prevail, and the pattern of short-term steel market will be dominated by “stable shocksâ€. However, the trend of higher prices is certainly difficult to establish, and the time and magnitude of the rebound depends entirely on the demand follow-up and the arrival of later resources.