Fluctuations in iron ore prices in world markets - آرتان پرس | مرجع رسمی اطلاع رسانی فولاد | آرتان پرس | مرجع رسمی اطلاع رسانی فولاد

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Fluctuations in iron ore prices in world markets

شناسه : 40207 ۱۶ بهمن ۱۳۹۹ - ۱۱:۱۰
Iron ore is the beating heart of the steel economy worldwide, and mining companies in this area virtually determine steel pricing policies around the world. Falling iron ore prices in world markets is an issue that can have benefits and consequences for the global steel market.
Fluctuations in iron ore prices in world markets
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Iron ore is the beating heart of the steel economy worldwide, and mining companies in this area virtually determine steel pricing policies around the world. Falling iron ore prices in world markets is an issue that can have benefits and consequences for the global steel market. In the following, we will examine the fluctuations of iron ore prices in the world markets. Please be with Artan Press.

 

*** The latest prices of iron ore in the Chinese market

The prices of steel products are still in the resistance range, despite a slight decline. The price of 62% iron ore in China traded down $ 5.95 at $ 150.10 on Tuesday. 62% iron ore traded down $ 5.95 at $ 150.10. 65% grade iron ore traded down $ 5.95, down $ 174.10.

 

*** Recession in the global iron ore market

Iron ore left the market in a slump, and after the decline in the paper markets, we also saw a drop in prices in the physical markets. The price of this raw material for maritime shipments experienced a further decline. Because the price of oil has increased the cost of shipping, and in practice we have to see the impact of this on the fall in the price of exports. The high-consumption grade of iron ore decreased by 3.4% for maritime shipments to $ 2.3 / tonne and in the port market decreased by $ 3.4 to $ 3.4 / tonne.

 

*** Falling iron ore prices in favor of Chinese steelmakers

Falling iron ore prices in recent days have pushed Chinese steelmakers from the affected area to production. At present, with current prices for raw materials and steel products, the loss of rebar production is estimated at 3 yuan and the loss of hot-rolled sheet production at just over 30 yuan. The price of port iron ore will increase compared to similar imports. Efforts by the Chinese government to stem the rise in iron ore prices are paying off, and the price of this production input has dropped by nearly $ 20 / ton over the past week.

 

*** Australian hurricane; reduced iron ore production

Although the recent Australian storm has raised concerns about iron ore supplies, the amount of iron ore entering Chinese ports has risen by 1.5 million tonnes over the past week. On the other hand, the amount of iron ore leaving the ports of Australia and Brazil has increased by more than 1.5 million tons. So there does not seem to be any concern for China’s iron ore supply.

 

*** Impact of Chinese steel market of Dalian iron ore

But the point is, China’s steel market is heavily influenced by the iron ore market on Dalian. China’s steel industry and iron ore market are grappling with a seemingly contradictory policy that should produce less this year, even if demand remains high thanks to stimulus packages after the Corona epidemic. China needs to slow down steel production to keep the steel sector afloat.

 

*** The performance of the Chinese steelmaker is a factor in the growth of iron ore

China produced about 1.05 billion tons of steel in 2020, which helped push iron ore prices to a peak of $ 175.4, up 75 percent year-over-year. To date, however, the price of this raw material has returned to less than $ 160. But for two months now, the price has been above $ 150, which is a good performance because the price of this raw material between May 2014 and May 2019 was below $ 100.

 

*** High demand for iron ore in China

Iron ore owes its price growth of the past year to the performance of Chinese steel companies. Due to the economic consequences of the corona, China was forced to increase its level of production and be able to recoup part of its costs in this way. While China’s high steel production has had a positive effect on the raw material market, global iron ore supply has also been affected by a number of factors in Brazil, the world’s second-largest exporter, including coronary heart disease, mine closures, safety issues and Last month a fire broke out in one of its export terminals.

 

*** Australia’s inability to meet its iron ore deficit

Australia, on the other hand, as the largest exporter, has tried to keep supply high, but has not been enough to offset the decline in Brazilian supply and has not met Chinese demand. Analysts are now questioning whether China is really cutting steel production this year or whether stimulus packages will continue, with Chinese officials prioritizing economic growth over controlling air pollution and energy consumption.

 

*** Reasons for the continuing decline in iron ore price

Increased supply, declining demand, the upcoming holidays and the loss of steelmaking units ensure that iron ore continues to decline. Port inventories rose for the third week in a row to a total of 125 million tonnes on January 30, due to declining iron ore re-storage activities. Thus, market participants expect further reductions in iron ore prices by the beginning of the Chinese New Year holiday on February 11 (February 13).

 

*** Shadow of geographical risks on iron ore

Traders are also worried about the spread of the storm in Western Australia, which has led to the evacuation of docks due to heavy rains. However, it is heard that ships are still allowed to anchor in ports. Meanwhile, with the reduction of sintering and truck transport restrictions in Tangshan, the demand for lamp iron ore has decreased, although the reduction of lamp iron ore inventory in ports will automatically increase the lamp premium in the short term.

Iron ore is the beating heart of the steel economy worldwide, and mining companies in this area virtually determine steel pricing policies around the world. Falling iron ore prices in world markets is an issue that can have benefits and consequences for the global steel market. In the following, we will examine the fluctuations of iron ore prices in the world markets. Please be with Artan Press.

 

*** The latest price of iron ore in the Chinese market

The prices of steel products are still in the resistance range, despite a slight decline. The price of 62% iron ore in China traded down $ 5.95 at $ 150.10 on Tuesday. 62% iron ore traded down $ 5.95 at $ 150.10. 65% grade iron ore traded down $ 5.95, down $ 174.10.

 

*** Recession in the global iron ore market

Iron ore left the market in a slump, and after the decline in the paper markets, we also saw a drop in prices in the physical markets. The price of this raw material for maritime shipments experienced a further decline. Because the price of oil has increased the cost of shipping, and in practice we have to see the impact of this on the fall in the price of exports. The high-consumption grade of iron ore decreased by 3.4% for maritime shipments to $ 2.3 / tonne and in the port market decreased by $ 3.4 to $ 3.4 / tonne.

 

*** Falling iron ore price in favor of Chinese steelmakers

Falling iron ore prices in recent days have pushed Chinese steelmakers from the affected area to production. At present, with current prices for raw materials and steel products, the loss of rebar production is estimated at 3 yuan and the loss of hot-rolled sheet production at just over 30 yuan. The price of port iron ore will increase compared to similar imports. Efforts by the Chinese government to stem the rise in iron ore prices are paying off, and the price of this production input has dropped by nearly $ 20 / ton over the past week.

 

*** Australian hurricane; reduced iron ore production

Although the recent Australian storm has raised concerns about iron ore supplies, the amount of iron ore entering Chinese ports has risen by 1.5 million tonnes over the past week. On the other hand, the amount of iron ore leaving the ports of Australia and Brazil has increased by more than 1.5 million tons. So there does not seem to be any concern for China’s iron ore supply.

 

*** Impact of Chinese steel market of Dalian iron ore

But the point is, China’s steel market is heavily influenced by the iron ore market on Dalian. China’s steel industry and iron ore market are grappling with a seemingly contradictory policy that should produce less this year, even if demand remains high thanks to stimulus packages after the Corona epidemic. China needs to slow down steel production to keep the steel sector afloat.

 

*** The performance of the Chinese steelmaker is a factor in the growth of iron ore

China produced about 1.05 billion tons of steel in 2020, which helped push iron ore prices to a peak of $ 175.4, up 75 percent year-over-year. To date, however, the price of this raw material has returned to less than $ 160. But for two months now, the price has been above $ 150, which is a good performance because the price of this raw material between May 2014 and May 2019 was below $ 100.

 

*** High demand for iron ore in China

Iron ore owes its price growth of the past year to the performance of Chinese steel companies. Due to the economic consequences of the corona, China was forced to increase its level of production and be able to recoup part of its costs in this way. While China’s high steel production has had a positive effect on the raw material market, global iron ore supply has also been affected by a number of factors in Brazil, the world’s second-largest exporter, including coronary heart disease, mine closures, safety issues and Last month a fire broke out in one of its export terminals.

 

*** Australia’s inability to meet its iron ore deficit

Australia, on the other hand, as the largest exporter, has tried to keep supply high, but has not been enough to offset the decline in Brazilian supply and has not met Chinese demand. Analysts are now questioning whether China is really cutting steel production this year or whether stimulus packages will continue, with Chinese officials prioritizing economic growth over controlling air pollution and energy consumption.

 

*** Reasons for the continuing decline in iron ore

Increased supply, declining demand, the upcoming holidays and the loss of steelmaking units ensure that iron ore continues to decline. Port inventories rose for the third week in a row to a total of 125 million tonnes on January 30, due to declining iron ore re-storage activities. Thus, market participants expect further reductions in iron ore prices by the beginning of the Chinese New Year holiday on February 11 (February 13).

 

*** Shadow of geographical risks on iron ore

Traders are also worried about the spread of the storm in Western Australia, which has led to the evacuation of docks due to heavy rains. However, it is heard that ships are still allowed to anchor in ports. Meanwhile, with the reduction of sintering and truck transport restrictions in Tangshan, the demand for lamp iron ore has decreased, although the reduction of lamp iron ore inventory in ports will automatically increase the lamp premium in the short term.

 

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