Keyvan Jafari Tehrani, an international market analyst for the steel industry, said about the increase in iron ore prices: “Iron ore prices have not increased all at once and it will take months for them to increase by $ 20 to $ 22.”
Keyvan Jafari Tehrani, Senior Analyst of International Steel Industry Markets, said that the price of iron ore will not increase more than its current price due to the ban on iron ore exports and ship traffic problems in Chinese ports. In the last three months of this year, the market demand of this country is expected to decrease significantly and provide the ground for reducing the global price of iron ore.
Keyvan Jafari Tehrani, an international market analyst for the steel industry, said about the increase in iron ore prices: “Iron ore prices, have not increased all at once and it will take months for them to increase by $ 20 to $ 22.”
*** Impact of changes in iron ore prices in the domestic market
He went on to point out that changes in iron ore prices in the domestic market are not ineffective: “Because iron ore exports have stopped, but this is not the reason why the domestic market is not affected by global iron ore rates.”
Regarding the increase in iron ore price in domestic markets, he noted that the bargaining power of miners has an effect on changes in iron ore prices, adding: If the world price of iron ore is high, then the purchasing power of steelmakers will decrease.
In another part of his speech, Tehrani acknowledged that I had already said that the price of iron ore had reached equilibrium and would not increase: the higher the price of iron ore, the lower the profit of steelmakers, for example, if the price of iron ore is 60 The price change on the ingot will be between 1.7 and 2%, equivalent to 100 to 120 dollars.
In another part of his speech, he noted that the profit margins of steelmakers are weak, so that now $ 20 and some steelmakers have a profit of $ 10 per ton: Iron ore price, do not seem to be higher than what Today it is going to increase because the steelmakers will resist and prevent the increase in the prices of iron ore products.
Tehrani went on to point out that the heavy mooring traffic of ships carrying iron ore cargoes affects the price of iron ore: Traffic in Chinese ports has overshadowed the profit margins of iron ore and steelmakers for even a week. have given.
*** Increased Chinese steel production has no effect on world market prices
“China is one of the countries that produces its steel for domestic consumption and has stopped exporting to other countries for the past years, so its products can not be traded at the price of steel products,” he said. Be influential globally.
According to him, China exported about 110 million tons of steel in 2013, which is the total size of Japanese steel production. But this amount of exports has decreased and reached below 70 million tons, so today the increase in steel production in this country is due to increased consumption, and this trend will continue until September 2020. However, in the last three months of this year, the market demand of this country is expected to decrease significantly, leading to a decrease in world prices for iron ore and, consequently, other raw materials.
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