Although the steel market has eased, but the past week domestic spot steel prices are still weaker. Iron ore market in the process of shock adjustment, steel mill demand for ore has been reduced.
The composite index of domestic spot steel prices closed last week at 140.69 points, down 0.49 per cent for the week. Among them, the price of construction steel fell, the national main market mainstream specifications rebar varieties average price of 3839 yuan per ton, a week down 25 yuan. The price of hot-rolled coil stabilized, and the average price of hot-rolled products of mainstream specifications in major markets nationwide was 3793 yuan per ton, up 9 yuan per week. The price of thick and medium plate fell, the average price of the main market in China is 3892 yuan per ton, down 20 yuan a week.
At present, although the high - priced transaction of weakness, but relatively low - priced transaction. Recent steel production and steel inventory data have appeared a certain fall back, but market demand is still slightly depressed, prices rose cautiously.
Iron ore market in shock adjustment. According to the latest report of "Xiben Shinkansen", prices have fallen slightly in the domestic mine market, and steel companies have not accepted high prices. Port inventories of imported ore have fallen, sentiment has eased after a sharp fall in prices, but demand for imported ore has also fallen after steel mills tightened production restrictions.
Analysis of relevant institutions believe that the current steel market terminal demand has not fully recovered, the speed of destocking is also lower than expected, steel prices into the rise channel is still lack of enough power, is expected to come out of the market in the short term shock strong trend.(From Xinhua News)