Domestic Steel Price Slightly Higher Import Ore Price Fluctuation

Domestic Steel Price Slightly Higher Import Ore Price Fluctuation

Date:Oct 11, 2018

Shanghai, September 24 (Xinhua) due to the continuous decline in market inventory level, the pre-replenishment of the library to form a certain pull power, domestic spot steel price slightly upward. The price of imported ore is in a small fluctuation, and the level of port inventory is still high.

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In the plate market, the price overall slightly downward. The price of hot-rolled coils fell slightly, the main market for major hot-rolled products in the market average value of 4342 yuan per ton, a week fell 15 yuan. The price of medium and heavy plate fell slightly, the main market mainstream specifications in the national average price of 4474 yuan per ton, a week down 24 yuan. At present, the social inventory of steel continues to decline, indicating that the market demand performance is fair. Steel mills in the case of low inventories, prices can be kept stable, which makes the market's arrival costs at a high level, continue to maintain a certain level of support for market prices.

The market for imported iron ore is in a slightly volatile situation. According to the latest report of "West New Shinkansen", at present, 62% grade imported powder ore price in the first line of 69 U.S. dollars a deadlock, steel mills before the replenishment of the library, although there has been increased, but still small quantities of procurement-oriented, the overall turnover is not big, the price increase is insufficient. Iron ore port inventories remain high, the latter is still difficult to get rid of the weak pattern.

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