Jinyuan Futures: Spot Transactions Increased, Mining Prices Continued To Rebound

The Dalian Iron Ore Futures index contract closed Wednesday at 795, up 16 points. Mysteel announced the imported PB powder CFR price of 110, up 2 from the previous trading day; Qingdao port PB powder price is 865, up 15; Hebei Tangshan 66% fine powder is 1060, down 5; Yesterday, the domestic steel spot prices stabilized, market transactions increased; Tangshan billet factory price rose 10 to 3520 yuan/ton. The operating rate of blast furnace in 247 steel mills was 84.4%, an increase of 0.3 percentage points from the previous quarter; The utilization rate of blast furnace ironmaking capacity was 92.1%, an increase of 0.1 points. The latest iron ore port inventory of 125 million tons, down 1.33 million tons last week, with the short-term high landing in the port, iron ore is expected to be a small accumulation. The profit of imported ore is still good, and the transaction is good. Steel mill profits improved, pig iron production remained high, steel mills did not take the initiative to reduce production. Global iron ore shipments increased by 34.68 million tons, an increase of 2.37 million tons from the previous month. Steel mills profit low improvement, steel mills low iron ore inventory and high daily production of pig iron, steel mills low inventory to provide support for iron ore prices. At present, Tangshan sintering limited production; Steel mills based on demand procurement, port spot turnover improved. In general, the current demand for steel off-season demand is general, iron ore multi-heavy profit multi-factor marginal weakening, steel procurement is more cautious. Iron ore is expected to continue to shake mainly digestion of the early increase.