This week the main iron ore futures contract 2309 shock up to 736 yuan/ton, up 39 yuan/ton month on month, up 5.6%. Qingdao Port PB powder price 795 yuan/ton, week on month up 14 yuan/ton. This week the macro gloom eased as steel mills restocked and iron ore prices rebounded.
Supply side: Mysteel shipped 28.277,000 tons of iron ore globally this week, down 1.373 million tons month-on-month, including 17.069 million tons shipped from Australia, down 1.89 million tons month-on-month, 6.209 million tons shipped from Brazil, down 1.188 million tons month-on-month, and non-mainstream shipments of 4.999 million tons, up 1.54 million tons month-on-month. The average daily output of iron concentrate powder in 186 domestic mines was 474,800 tons, down 0.39 million tons from the previous month. Both internal and external iron ore supplies were low this week.
Demand side: this week, Mysteel247 steel mills average daily output of molten iron 2,393,600 tons, compared to 0.11 million tons. This week steel production is not obvious, and continued replenishment of raw materials, iron ore demand has been supported.
Inventory: Mysteel statistics 45 ports imported iron ore inventory of 127,862,100 tons, a month-on-month increase of 1,861,500 tons; The average daily port throughput of 2,869,100 tons decreased by 106,100 tons; The total inbound volume reached 2.428 million tons, an increase of 3.355 million tons; The number of ships in port dropped from 79 to 5. This week, due to the cautious and restrained replenishment of steel mills, the quantity of port opening continued to decline, but the quantity of port arrival increased, resulting in the port inventory inventory accumulated on a month-on-month basis. The steel mill inventory low dropped again and again, maintaining the extremely low inventory state.
On the whole, the supply of iron ore is low, the demand is supported in the short term, and the inventory structure is good. However, if the subsequent implementation of the flat control policy, the inventory is expected to accumulate. At present, the iron ore supply and demand situation is the best variety of plate, the price below the non-mainstream mine dynamic reduction to support, but the price above the lack of strong demand positive drive, short-term price or maintain shock, pay attention to the late recovery of scrap, if the price stabilized after the arrival of scrap will increase the production of hot iron, thus restricting the demand for iron ore.
