Xinhua News Agency, Beijing, May 17th Xinhua-China Iron Ore Price Index shows that as of May 16, China's port iron ore stocks (25 coastal ports) were 91.36 million tons, a decrease of 90,000 tons from the previous week. Decline by 0.10%. China's imported iron ore price index with a grade of 63.5% was 187, down by 3 units, and the 58% grade iron ore price index was 156, down by 3 units.
Xinhua News Agency economic analysts believe that this week's imported iron ore prices show a steady decline in the trend, the market turnover is weak, the port inventory continued to drop, the steel mill inventory is more abundant. Due to the advancement of “electricity shortage†in many regions in China, many steel companies have been affected by power restrictions, and production capacity has continued to be limited. Some steel companies have therefore reduced their planned production. Due to the tight electricity supply situation in East China and Central China will continue for some time, this will lead to direct impact on downstream companies in the steel industry, which in turn will weaken the demand for steel products.
In April, domestic crude steel production reached 59.03 million tons, a year-on-year increase of 7.1%, hitting a record high; on the other hand, shipping costs from Western Australia and Brazil to China also showed a downward trend. At present, the price of domestic fine iron powder is falling, which has a certain impact on the imported ore and has inhibited the prices of upstream and downstream industries.
Taken together, due to factors such as excess steel production in April and “electricity shortage†and other factors, China’s steel output may decrease in the coming month, and the price of imported iron ore may decline.
At present, the "Xinhua-China Iron Ore Price Index" is released every Tuesday. The index is intended to provide an in-depth understanding of the changes in China's iron ore spot trading and to effectively predict and analyze the development trend of iron ore prices and future transactions. The index is one of the data products independently researched and developed by Xinhua News Agency. It is collected, processed and analyzed by Xinhua News Agency's global information collection network. Combined with the opinions of experts in related fields, and considering various factors in a comprehensive manner, Xinhua News Agency experts The results of the team of consultants.
Xinhua News Agency economic analysts believe that this week's imported iron ore prices show a steady decline in the trend, the market turnover is weak, the port inventory continued to drop, the steel mill inventory is more abundant. Due to the advancement of “electricity shortage†in many regions in China, many steel companies have been affected by power restrictions, and production capacity has continued to be limited. Some steel companies have therefore reduced their planned production. Due to the tight electricity supply situation in East China and Central China will continue for some time, this will lead to direct impact on downstream companies in the steel industry, which in turn will weaken the demand for steel products.
In April, domestic crude steel production reached 59.03 million tons, a year-on-year increase of 7.1%, hitting a record high; on the other hand, shipping costs from Western Australia and Brazil to China also showed a downward trend. At present, the price of domestic fine iron powder is falling, which has a certain impact on the imported ore and has inhibited the prices of upstream and downstream industries.
Taken together, due to factors such as excess steel production in April and “electricity shortage†and other factors, China’s steel output may decrease in the coming month, and the price of imported iron ore may decline.
At present, the "Xinhua-China Iron Ore Price Index" is released every Tuesday. The index is intended to provide an in-depth understanding of the changes in China's iron ore spot trading and to effectively predict and analyze the development trend of iron ore prices and future transactions. The index is one of the data products independently researched and developed by Xinhua News Agency. It is collected, processed and analyzed by Xinhua News Agency's global information collection network. Combined with the opinions of experts in related fields, and considering various factors in a comprehensive manner, Xinhua News Agency experts The results of the team of consultants.
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