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Domestic steel prices have expanded and iron ore market has stabilized.

The latest market report shows that the domestic spot steel price has expanded, the market turnover is weak, and the iron ore market has declined steadily.

According to the latest market report provided by the domestic iron and steel information agency "My Steel", the domestic spot steel price composite index closed at 155.43 points in the recent week, falling by 2.45% in a week. Spot prices have fallen more sharply than before, and market turnover is weak. Businessmen generally take price reduction operations to get delivery.

According to analysis, in the construction steel market, prices fell sharply. The average price of the main thread of the main market in China is 4532 yuan per ton and 109 yuan per week. According to the latest inventory data, the overall output of threaded steel is still at a high level, and the social inventory has declined, while the stock of steel mills continues to accumulate, which shows that the market demand is weaker than before, the merchants are cautious in taking goods, and the pressure is shifting to steel mills.

In the sheet metal market, prices generally fell. The price of hot rolled coil has fallen sharply. The average market price of hot rolled products of main market specifications in China is 3950 yuan per ton and 120 yuan per week. Medium and heavy plate prices also fell sharply. The average price of medium plate in the mainstream specifications of major markets in China was 4172 yuan per ton, down 100 yuan per week. Expectations for market demand are relatively weak.

The iron ore market is generally stable and downward trend. According to the latest report of "Xiben Shinkansen Line", the price of iron concentrate in China maintained stable and the stock was low in the domestic mining market. The price of imported iron ore fell continuously. As of the 15th day, the price of 62% grade imported iron ore was US$74.15 per ton, down by US$2.1 annually. The reduction of iron ore stocks in major ports in China has slowed down significantly, which indicates that the pace of purchasing and reserving iron ore stocks in steel mills is also slowing down, and ore traders are not fully confident of future market expectations.

Related agencies believe that the current steel market price decline widened. However, the social inventory continues to decline, the production reduction and maintenance of steel mills will increase in the latter period, and the sharp drop in the market releases part of the risk, which will play a balancing role in the steel market to a certain extent. (source: Xinhua)
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