Domestic steel prices fell slightly, imported ore prices hit new highs
Although domestic spot steel prices have fluctuated from time to time, they are still in the channel of slight decline overall. Profits of steel mills have shrunk, while output remains high. The iron ore market is generally strong, and the price of imported ore has reached a new high in stages.
According to the latest market report provided by the domestic steel information agency "My Steel", in the past week, the domestic spot steel price composite index closed at 144.51 points, down 0.65% in the week. Among them, the price of construction steel fell, and the average price of mainstream rebar varieties in major markets across the country was 4,036 yuan per ton, down 40 yuan a week. The price of hot-rolled coils fell. The average market price of mainstream hot-rolled products in major markets across the country was 3863 yuan per ton, down 32 yuan a week. The price of plate has fallen. The average price of mainstream medium plate in major markets across the country is 3970 yuan per ton, down 32 yuan a week.
From the perspective of specific trends, steel prices rose first and then fell, with overall fluctuations and weakening. Relatively speaking, transactions for low-priced resources are slightly better, and downstream companies still focus on on-demand procurement. At present, the profit of steel mills has been compressed, but the supply is still high, and the inventory has accumulated slightly.
The iron ore market is generally strong. According to the latest report of the institution, in the domestic mining market, the mainstream quotations are firm, and a few regions see increases. The market price of imported mines has risen sharply, setting a new high in 5 years. At present, the operating rate of domestic blast furnaces is relatively high, and most steel companies' ore inventories are generally low, and the demand for ore is still high. Iron ore inventories in major ports across the country have declined for the 10th consecutive week.
The analysis of relevant agencies believes that as the contradiction between supply and demand intensifies, the downward pressure on the steel market has increased compared with the previous period. However, the recent production cuts and maintenance of steel mills have also increased accordingly, and the supply side is unlikely to be further improved; coupled with the high cost of raw materials, leading steel mills intend to raise prices, which will provide certain support to the market in the short term. The domestic steel price trend will mainly fluctuate downward, but the magnitude will not be very large.