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    Iron ore inventory signal to global steel market

    شناسه : 54053 15 شهریور 1400 - 15:30
    Despite the growth of iron ore inventory in China, supply is still heavy. After the price shock shock two weeks ago, last week did not change the situation much for market participants and the price reduction was much heavier than stability or increases. The reason for the price increase can be considered environmental issues and China's control policies. .
    Iron ore inventory signal to global steel market
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    As of August 30, iron ore inventory in China’s 33 major ports totaled 120.16 million tonnes, up 1.29 percent from August 23. China’s iron ore stock data show that China’s control policies have worked best. It is likely that the trend of falling iron ore prices in the international market will be stabilized with this index. It should be seen that the market is showing signs of growth in demand or is waiting for further price declines. In the following, we will evaluate this issue. Please be with Artan Press.

    *** The last days of global iron ore price growth

    Over the past week, the price of imported iron ore has risen sharply since falling to its lowest level since November 2020. The reason for the price increase can be attributed to China’s environmental issues and control policies. This led to a recession in the international iron ore market. This recession has a significant direct relationship with iron ore reserves in China.

    *** Possible drop in steel prices due to growing iron ore inventory

     However, increased deliveries in the global iron ore market may increase iron ore inventories in the market in the near future. Both the domestic market capacity utilization index and the output of blast furnaces in China have declined. This has added to the negative sentiment of the market. As China plans to reduce steel production, production restrictions will continue. Therefore, steelmakers prefer to maintain low inventories. This low level of the warehouse will minimize fluctuations in the iron ore market.

    *** Heavy supply’s excuse under the pretext of growing iron ore inventory

    Despite the growth of iron ore inventory in China, supply is still heavy. After the price shock of two weeks ago, last week did not change the situation much for market participants, and the price reduction has been much heavier than stability or increases. The price of 62% of China CFR iron ore on the Singapore Stock Exchange, which had risen slightly to $ 153.95 at the beginning of August, fell to $ 143 just three days later, on August 5. Let this process continue.

    *** Continued restrictions on steel production in China

    The Argus Institute recently stated that the policy of Chinese regulators to curb import inflation has been cited as the most effective factor in lowering iron ore prices. The growth of iron ore production will strengthen this path. Continued restrictions on steel production in China are currently a problem. The consequent growth of iron ore inventories has somewhat supported the price of steel on the stock exchange. At present, the downward trend in steel and iron ore prices cannot be considered definitive. But data released by the China Dalian Stock Exchange and news of growing Chinese iron ore inventories reinforce this.

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