News: Australia's Mineral Resources Ltd. 's total iron ore production for the first quarter was 5.07 million tons, down 10% from the previous quarter and up 2.2% from the previous year. Iron ore shipments in the first quarter were 4.5 million tons, up 10% quarter-on-quarter and down 4.3% year-on-year.
Opinion: Iron ore remained stable and rebounded slightly. After the short bottomed out, the shipment of Australia and Brazil quickly recovered, and now it is at the neutral level. According to the quarterly report of Australian mines, the shipment in the first quarter is generally on the high side, which can fulfill the annual shipment target, and the shipment in the later period is likely to return to the high level. The output of molten iron basically peaked, due to the continuous pressure of loss superimposed on the central maintenance period in the middle of the year, steel mill maintenance production significantly increased, at the same time, the demand for replenishment in the weak market is more difficult to release, before the holiday replenishment strength is insufficient, the port low price and reluctant to sell, the transaction is weak, the late focus on whether the production reduction can promote the improvement of supply and demand balance. At present, the cost end still has a small downward space, negative feedback decline again confirmed, stop the decline conditions focus on the coal yield space, production reduction to promote steel supply and demand balance torsion, the new trend of the policy in the middle of the year, in these conditions do not have the situation temporarily did not see the reversal of the downward trend signal, before the empty single part of the surplus, waiting for the rebound opportunity.
