Flat steel prices fell in Russia's central federal district around Moscow due to oversupply in the week ending Monday, September 27. Export prices also did not support Russian manufacturers' efforts to achieve domestic stability. Prices fell despite strong buyer interest from low-inventory local shareholders. This week's resale demand was not fully met, and manufacturers preferred to accept only large quantities for conventional steel grades. Market sources said that this means that the market floor will probably be touched in these days.
Market participants predict a very downward demand outlook for the iron ore market and are skeptical of any return to prices until at least the first quarter of 2022. Therefore, the outlook for iron ore demand seems to be declining by the end of the year. This trend will also overshadow the Iranian market. The iron ore futures market failed to cross the $ 120 resistance barrier and returned to the $ 115-110 range, down about $ 8.
In recent years, the global steel market has become a multidimensional and complex market with many uncertainties. Important factors play a role in this market. China has been a leader in global steel market change and policy in recent years. In recent years, the country's economic and political movements have greatly influenced the global steel market.
Based on official statistics released from official sources and market observations, it is easy to see that inflation in September last year was unprecedented. This was not unexpected because the summer was virtually out of control of either government. Commodity and consumer markets were experiencing relative price increases, but some markets saw price growth of up to 60%. In the following, we will evaluate this economic factor.
٫ 6% increase compared to the closing price on Thursday 667 yuan ($ 103) per ton. Iron ore trading path seems to be on the rise. The growth of demand in the East Asian market guarantees this.