Domestic steel prices fell slightly, iron ore market steadily weakened

Due to the weakening of market mentality, the domestic spot steel price has gone up and down, but the drop is not too big. The iron ore market is stable and weak, and the confidence of the miners in the latter market is not enough.

According to the latest market report provided by domestic iron and steel information institutions, the domestic spot steel price composite index closed at 162.11 points in the latest week, falling 0.76% in a week. Recently, the relevant futures market plunged sharply, and the market mentality began to turn weak. Spot steel prices began to decline as a whole, but the trend of varieties was slightly differentiated. The overall turnover of steel city was relatively weak, but turnover was slightly picked up by the end of the week.

According to the analysis, in the construction steel market, the price is narrow. The average price of the main specifications of the rebar in the main market of the country is 4722 yuan per ton, and the weekly ring ratio is basically the same. From the latest inventory data, inventory overall continued to decline, but the decline is narrowing.

In the sheet metal market, prices generally fell. The price of hot-rolled coil has fallen considerably. The average price of hot-rolled products of mainstream specifications in the main markets of China is 4154 yuan per ton, and 84 yuan per week. Medium and heavy plate prices fell slightly. The average price of medium plate in the mainstream specifications of major markets in China was 4,335 yuan per ton, down 38 yuan per week. Although the fundamentals of the steel market are not very prominent, the pessimism of the market has increased.

The iron ore market is stable and weak. According to the latest report of relevant agencies, in the domestic mining market, the price of iron concentrate powder maintained strong, some mining enterprises were limited due to environmental protection, but some steel enterprises'demand for iron concentrate powder also declined. The price of imported iron ore fell successively. As of the 1st day, the price of 62% grade imported iron ore was US$74.55 per ton, down by US$1.95 annually. At present, the Port ore inventories have declined, but the confidence of the miners in the latter market is not enough.

According to the analysis of relevant institutions, in November, comprehensive atmospheric control will be promoted in autumn and winter, the start-up rate of blast furnaces in steel mills will decrease, and the stock of society and steel mills will remain low. At the same time, the mentality of most businesses is still more cautious. In the short run, the steel market will mainly operate with weak shocks. (source: Xinhua News Agency)