Steel prices continued to fall spot iron ore imports in the recent biggest daily decline
Every via reporter zhou xiaofang sends from Beijing
25, steel prices continue to decline. According to market monitoring, yesterday, the Beijing market rebar batch price down 70 yuan/ton ~120 yuan/ton, the price maintained at 4000 yuan/ton ~4100 yuan/ton, 25mm rebar price for 4000 yuan/ton, down 100 yuan/ton. From the steel electronic trading market, Lange electronic trading market opened sharply. Yesterday, imported spot iron ore prices hit a recent period of the biggest daily decline, down $4 / ton. In addition, Shanxi Province issued a supplementary notice on coke price in August, which lowered the coke price by 20 yuan/ton.
The dollar fell 4 dollars per ton, the biggest daily decline
Affected by the drop in steel prices, starting from August 17, spot iron ore import prices began to fall. In this round of iron ore rising process, the highest price appeared on August 10, 109 dollars/ton ~112 dollars/ton, until yesterday, compared with 14 dollars, down 14.29%; Yesterday's drop of $4 was the biggest one-day drop in two weeks.
"And spot iron ore price conduction has a lag, will continue to fall." Zhou xizeng, chief steel analyst at citic securities (27.79,0.52,1.91 percent), told China national business daily.
Correspondingly, the shanxi coking industry association (8.84,0.09,1.03%) also lowered the industry guidance price accordingly. A few days ago, shanxi coking industry association issued a supplementary notice of coke price guidance in August, said in the coke quality in August to sulfur 0.7, ash 12.5 as the benchmark, the price in the car plate tax price of 1880 yuan/ton on the basis of the initiative to reduce 20 yuan/ton, under the guarantee of payment, the settlement price of 1860 yuan/ton.
The coking industry association of Shanxi Province said that according to experts' forecasts, steel output in the fourth quarter will fall back, and suggested that more efforts should be made to limit production. The association believes that to increase the limit is also to curb the coking coal prices disorderly market demand and means, therefore, called on the whole industry to restore the limit of 60% ~ 70% range, reduce losses.
There are already traders selling goods at low prices
According to the united metal network coal coke researcher wang ling, due to the downstream steel prices callback, the current southern steel mills have reduced the fuel price, such as guangzhou region to the coke price down 150 yuan/ton, other regions are planning to reduce about 100 yuan/ton price policy; Current north steel mill also put forward to reduce price policy, nevertheless the range is not decided now.
Zhang Lin, steel analyst at Lange, said the feedback from individual mills showed that, having learnt the lessons of last year's "high inventories", both large and small mills were keeping low inventories of raw materials. Traders are already selling at low prices as expectations of a fall in iron ore prices strengthen.
Zhou xizeng said, the early steel price short - term impact, to the enterprise brought a high - profit short - term. But in the process of falling steel prices, steel companies' profits began to fall. According to the calculation, the iron and steel enterprises can still maintain the profit, but the profit is reduced, and the falling prices of raw materials for the iron and steel enterprises to increase part of the profit space.
Zhou xizeng said that due to the small number of new houses built in the second half of last year to the first half of this year, the sales volume has been soaring, even if the destocking is basically in place, it is expected that the new houses in September will drive the demand for steel. Zhou xizeng expected that the steel price correction or near the end of the basic. However, there are industry insiders pessimistic that the recovery in steel prices may continue to delay.