Steel price is not ChiZhongWu ore price tumbled a record 7.2% four quarter cautious optimism
On Wednesday the futures contract with 1201 regular rebar (3990 yuan/ton, similarly hereinafter) open quotation, the highest test 4043, minimum dip below 3978, at 4039, all-day down 19 or 0.47%; Hands down to 1.413 million, the last trading day sharply reduce 722000 hand; 579000 open hand, a decrease of 58000 hand on the day. Iron ore market seems to be really into a rare "freezing point". Yesterday, some news quoted pullman's energy statistics says, 62% of the grade of iron ore index fell 7.2% on Tuesday, us $128.50 / tons, is pullman's energy from nov. 2008 pullman's version released the biggest drop since the iron ore index. This year the fourth quarter, China's steel market is to can keep production steady, but the risk is bigger, deal with steel market should be careful to optimism.
Weaker demand iron ore prices will continue to fall
The price of steel traders, constantly, will inevitably lead to the iron ore prices as a raw material imports to fall, just time has certain delay sexual, China steel spot nets analyst said. At present the steel demand fell along with the global economy go soft had spread to China and other emerging economies, including most of the country, which has reduced demand for iron ore will continue and the price of ore traders.
Resource tax hike affect the price of coke market
State tax rise, the influences of enterprise of coke production is inevitable, and at the same time would spread to coke market price. Because coking coal resource tax imposed on, coking coal production costs rise, must pass on to the lower reaches of coke industry, improve the coking coal price, to digest the resource tax increase, which has been at the edge of the loss of coke production enterprise, is worse, so the downstream end users can accept, it is difficult to sure, is still a mystery.
Housing remains weak warmed time or delay the endorsement
Experience for many months policy adjustment in the housing market, jin jiuyin 10 has not like yesterday scenery, high house prices the bursting of bubbles to the contrary, the property market remain low, also bring some time ago endorsement of a drag rare slump, the days though steel price rebounded, but the market is still not appear whole clouds change. China steel spot nets thinks, at present the endorsement of buoyancy only a temporary phenomenon, steel price in the short run better not large area, signs flagging endorsement will continue to trend or before the Spring Festival.
Three big bad suppress Shanghai steel continue to find the bottom
Last week the external financial market continued to worsen, the Shanghai steel experience the biggest fall since this year. This week the European Union will be announced massive debt crisis projects, boosted European stocks soared, then the country's stock market and futures market has seen more than do enthusiasm, sweep the haze panic psychology, the Shanghai steel also started the super down trend rebound. In view of the domestic and international economic situation and steel fundamental condition, the Shanghai steel bounce will continue to find the bottom.
Endorsement: after the crash is still not see bottom price
The endorsement comes ahead of winter. Famous steel spot trading platform "XiBen Shinkansen" monitoring shows, 24, steel market price in China for 4320 yuan/ton, more early October fell 260 yuan/ton. Steel price composite index was down nearly 5% last week. In fact, the whole "jin jiuyin 10" stage of steel price fell more than 500 yuan/ton.
Steel price drop with focus on why we!
A new lows for year endorsement, last week brought this year since one of the largest decline weeks, then quickly appear a rebound. Although the rebound larger efforts, will continue to the downside. Review in September, the domestic market steel slack demand, social inventory turn up by drop, a small drop steel production, the original burning material price high volatility, all of these steel prices rise by turn down buried the set. Overall, the market price of steel is expected to late downward pressure still greater.
