Steel prices fell by 1000 yuan in January, 50% of enterprises still bearish 2009-9-7

        (Beijing News reporter Zhang Yi) steel prices, which have fallen for four weeks in a row, fell more slowly last week, but construction steel in Beijing and Tianjin still fell the most, falling 200 yuan / ton last week. So far, the average price of construction steel in major cities in China has dropped by 1000 yuan in the past month, and the price level has returned to three months ago. In Beijing, the situation is more serious, with the accumulative decrease of 1370 yuan / ton for high-speed wire rod and 1470 yuan / ton for ribbed bar, respectively, by 37.74% and 42.86%.

50% of enterprises are still bearish

        According to the weekly report of "my steel" of iron and Steel Research Institute, the average price of 20mm rebar and 6.5mm high-speed wire rod in the domestic market last week was close to the manufacturer's cost price. Last week, 22 rebar enterprises and 30 wire rod manufacturers continued to reduce the ex factory price. Among them, Hebei Iron and Steel Group in North China reduced the ex factory price of rebar and wire rod by 600 yuan / T at one time, and Shagang in East China reduced the ex factory price by 400 yuan / T at one time, which has a great impact on the current market.

        In addition, all kinds of steel products such as medium and heavy plate, cold and hot rolling, large and medium-sized profiles are still in a downward trend, with an average decline of less than 100 yuan.

        According to "my steel" Statistics: for this week's steel market, 50% of steel mills and traders are still bearish, and another 44% of enterprises believe that they will be in the consolidation stage.

        Analysts believe that with the sharp decline of domestic steel prices, the spot price of iron ore has fallen to US $80 / T, while the newly started area of the downstream real estate industry in the first seven months has decreased by 9.1% compared with the same period last year. With the decrease of the actual scale of new loans in August, traders worry that market funds will gradually tighten.

Steel price "drag down" imported ore

        With the steel price falling again and again, the iron ore price also fell significantly. As of last Friday, the spot price of imported iron ore has approached the long-term price. Taking the 63.5% grade Indian fine ore as an example, the transaction price on Friday ranged from US $81 to US $83 / T, which has dropped by US $30 / T compared with its highest price of US $112 / T more than a month ago.

        Du Wei, an analyst of United metal network, told reporters that the future trend of iron ore spot price depends on steel price. "If steel prices continue to fall, iron ore will follow." Du Wei said that the main reason for the decline in mineral prices is the sharp drop in steel prices, while spot mines have about $10 to fall.

        According to the current port situation, since the beginning of July, the port inventory has increased by nearly 4 million tons to about 73 million tons. This also shows that the steel plant began to shrink the purchase of ore. "At present, there are a lot less ore carriers going to China, and the port is mainly to digest the vessels that pressed the port before." According to the information released on the website of the business office of the Chinese Consulate General in Melbourne, the number of iron ore freighters bound for China from Australia and Brazil decreased by eight in August. (source: Beijing News)