Original title: Imported ore prices continue to decline and are expected to stabilize in the short term Source: Xinhua Finance
Xinhua Finance, Beijing, August 3 (Zheng Hao) The Xinhua-China Iron Ore Price Index showed that the price of imported iron ore continued to fall from July 27 to August 2. Data shows that on August 2, the price index of my country’s 62% grade imported iron ore was 182, a decrease of 9.45% from July 26; the price index of 58% grade imported iron ore was 147, which was 11.45% lower than July 26 .
As of August 22, the iron ore inventory of Chinese ports (33 coastal ports) was 118.64 million tons, an increase of 0.24% from July 26.
According to the analysis, on the supply side, the total amount of global iron ore shipped in this period has increased from the previous month, and the increase in Australian shipments has been significant; at the same time, due to the impact of the typhoon, the volume of iron ore arrivals has dropped significantly from the previous month. Or there will be a rebound. On the demand side, domestic steel mills’ blast furnace capacity utilization rate increased slightly during the current period, and output continued to decline month-on-month. The implementation of the near-term production policy was stricter. However, some steel mills plan to resume production in August. It is expected that there will be a certain increase in demand in the later period, and iron ore demand Or will pick up. On the whole, last week’s Politburo meeting called for a correction of the campaign-style “carbon reduction”, steel mills have weakened expectations of production restrictions, and iron ore prices are expected to stabilize in the short term. The price of iron ore has been volatile recently, and all parties involved in the market need to be alert to risks.
The “Xinhua-China Iron Ore Price Index” is one of the data products independently developed by the China Economic Information Service. It relies on its own global information collection network for data collection, processing and analysis, combined with the opinions of experts in related fields, and comprehensive considerations. After these factors, the result obtained by the expert consultant team.
Currently, the “Xinhua-China Iron Ore Price Index” is released every week. The index aims to interpret the changes in China’s iron ore spot trading in depth, and make effective predictions and analyses on iron ore prices and future trading trends. This article does not constitute any investment advice.
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