Domestic spot steel prices rose sharply, but with the price level up, the market's turnover immediately showed a weakness. Iron ore market slightly consolidation, imports of ore port stocks rose.
According to the latest market report provided by "My Steel", a domestic steel information agency, in the recent week, the domestic spot steel price index closed at 164.22 points, up 5.21% in the week. In the black futures market rose strongly driven, the spot price of steel is also a larger increase, the average price per ton of rebar rose nearly 400 yuan a week; billet prices also rose to stage highs. The reason is mainly due to supply contraction, inventory drop, tight market resources and other factors. After the price rose sharply in the beginning of the week, some market transactions were also released. However, as the market continued to soar, the sentiment of the terminal market intensified and the market failed. At present, the steel market will continue to be on the red weakened capacity, the follow-up steel market demand will also be weakened, the end of the stack of funds under the pressure of tight-end, steel risk is being accumulated.
According to analysis, in the construction steel market, prices rose. Shanghai, Hangzhou, Jinan and other places prices rose 180 yuan to 550 yuan a week. As can be seen from Shanghai and other places, prices have risen sharply in the beginning of the week, and the mood of the terminal purchase has also been relatively high. In the stock is low, tight resources, coupled with the leading East China Steel ex-factory price out of "up disk" situation, the spot steel prices have been more robust support. At present, the inventory of construction steel is near the historical low level, although the arrival of subsequent cargoes has increased, it is still difficult to reverse the tight supply situation in the local area.
In the plate market, the increase has also been expanded. Hot rolled coil prices rose sharply, Shanghai, Guangzhou, Beijing, Tianjin and other places a ton of gold prices rose 70 yuan to 190 yuan a week. Market prices maintain the rhythm of the rush, but the overall market acceptance is not too high, waiting to see the mood is still strong. Just relatively small inventory, the short term support for the market still exist. Plate prices rose sharply, Shanghai, Jinan, Wuhan and other places prices rose 30 yuan a week to 210 yuan. The market replenishment enthusiasm was somewhat improved, but the price has continued to pull up the case, the transaction showed a decline.
Iron ore market at a slight correction state. According to the latest report of "West of the Shinkansen," iron ore concentrate prices in Hebei have remained stable in the domestic ore market. The current northern steel mills heating season production is more stringent, blast furnace operating rate dropped to historic lows, reduced purchases of iron concentrate resources. However, the limited production of environmental protection also reduced the output of mining enterprises. Imported ore prices rose slightly, as of the end of November, Platts 62% grade iron ore index of 69.3 US dollars per ton, up 0.85 USdollars a week. Currently, the port iron ore inventories rose again to historic highs, which somewhat limited the space for the rebound of imported ore prices.
Analysis of relevant agencies that the sharp rise in domestic steel prices in the short term, may lead to the general end-user into wait-and-see state, the volume will be somewhat reduced. In the hands of resources, profits have been very high, some businesses will gradually consider profit cash, the price will be somewhat loose.
