Iron ore prices have been turned upside down

Recently, the data released by the China Iron and Steel Association showed that at the end of March, China's iron ore price index (CIOPI) was 474.69 points, a decrease of 21.97 points, a decrease of 4.42%.

China Iron and Steel Association pointed out that the slow start of steel demand in the domestic market in March, coupled with the significant increase in the production of crude steel in two months and the accumulation of steel inventories in the steel industry, caused the price of steel products to fall for five consecutive weeks, and the production of steel products showed a downward trend. Iron ore The price of the stone has changed from rising to falling. It is expected that the oversupply situation in the steel market and raw material market will continue for a short time, and the iron ore price will fluctuate downward.

At the end of March, domestic iron ore concentrate price was 937.00 yuan/ton, a month-on-month decrease of 50.44 yuan/ton, a decrease of 5.11%; imported iron ore (fine ore) landed price was 140.35 US dollars/ton, a month-on-month decrease of 10.44 US dollars/ton. The equivalent price of ***************************************************************************************************************************************************************

Steel production has a declining trend. At the end of March, the CSPI domestic steel comprehensive price index fell to 107.05 points, a decrease of 3.66% from the end of last month and a decrease of 11.66% from the same period of last year. According to the statistics of the steel and iron associations in the third quarter, the average daily output of crude steel for major and medium-sized steel enterprises in mid-March was 1,651,900 tons, which was a decrease of 83,300 tons, or 4.80%, from the average daily production level in January and February. The output of crude steel fell, and the demand for iron ore production from steel production decreased.

According to statistics from my steel network, last week iron ore port inventories continued to grow. The number of iron ore inventories at 30 major ports across the country was 67.96 million tons, an increase of 40,000 tons from the previous week and an increase of 0.06% from the previous week.

According to industry sources, the current downstream demand is slowly being released, and finished product inventory has also dropped for the second consecutive week. These are favorable conditions for the market to recover. However, the loss situation of the steel mills is not optimistic. Before the steel prices have entered the real rising channel, the suppression of raw material prices and low inventory operations is still an inevitable choice for the market. Therefore, the short-term iron ore market is still difficult to get out of the doldrums, and will inhibit the enthusiasm of spot trading in the port to a certain extent. It is expected that this week's iron ore port inventory will be significantly reduced.