Short-term steel prices or weak shocks

Last week, the total iron ore inventory in major ports nationwide rose slightly. As of April 12, total inventories of major ports in China totaled 68.73 million tons, an increase of 770,000 tons, an increase of 1.13%; of which, Australian ore accounted for 45.96%, a month-on-month increase of 0.08%; Indo-ore accounted for 2.58%; Decline of 0.25%; Pakistan mines accounted for 21.66%, a decrease of 0.39%.

The Platts index rose slightly last week. As of April 12, the Platts index was 142 US dollars/ton, up 6 US dollars/ton from the previous week. Last week, port inventories in the port fell sharply again, and the proportion of India and China’s total inventories also fell to 2.58%. It can be predicted that as India’s export restrictions on iron ore resources become more severe, the Indian ore mining industry will gradually withdraw from China this year. market. On the other hand, last week, the overall turnover of the port ore import market did not show significant volume, while the port mainstream resource shipments remained sluggish. Conversely, driven by the procurement practices of some second-tier steel mills, non-mainstream resource inquiry telephones increased slightly. The rise in the price of imported ore is more of a ripple effect for port operators in the case of their own inventories. At present, the steel mills are more cautious with regard to the procurement of imported ore, and their poor profitability has caused the steel mills to have a certain resistance to excessively high ore prices. However, the limited port resources make the port companies still dominate the game in the steel mills. It is expected that the price of imported ore this week will be stable or strong and the port inventory will continue to rise slightly.

Coke prices showed a weak performance last week, and coke port stocks rose slightly. As of April 12, the inventory of coke in Tianjin Port was 2.16 million tons, up by 0.93% over the previous week; the inventory of coke in Lianyungang was 25.3 million tons, up 5.42% over the previous week; the inventory of Rizhao Port was 159,000 tons, up 37.07 from the previous week. %. With the stabilization of the price of finished products, the pressure on the price of coke was slightly eased last week, and the recent decline in the price of coking coal has also lowered the cost pressure on the coking enterprises. The profitability of the coking enterprises has improved slightly from the previous period. At the same time, the steel mills still have poor enthusiasm for coke procurement, and some coke enterprises still have to actively lower prices in order to clear the warehouse. Taking into account the current rising coke port inventory, this week, coke prices are still showing a weak pattern, while the coke port inventory or due to some steel mills make a slight drop.

Last week, domestic steel prices oscillated to a certain extent, and the total domestic steel social inventories fell slightly. As of April 12th, the total inventory of the steel industry in China dropped by 1.45% to 21.213 million tons, of which, the thread inventory of 10.278 million tons was down 2.0%, down 2.1% last week; the wire rod 2.954 million tons down 3.1%, down 2.5% last week; Hot rolled 4.784 million tons increased by 0.8%, last week by 0.5%; cold rolled 1.679 million tons by 0.7%, down 0.7% last week; the medium board 1.618 million tons by 1.2%, down 1.1% last week.

Last week, the procurement volume at the terminal site increased. The middlemen also did not intend to raise the price. Instead, they took a cautious approach to follow the market. As a result, the thread and wire stocks on the market declined again, while the domestic mid-plate production line was more The overhaul and limited production conditions also reduced the inventory in the medium board market. In addition, the arrival of high-priced resources and the resulting sluggish shipments kept hot-rolled stocks from rising last week. Taken together, the fact that steel stocks have declined for four consecutive weeks does not change the fact that the market stocks are still high. The sharp decline in steel prices on Friday also showed that the demand for heavy demand is still relatively limited. It is expected that the price of finished products this week will show a narrow range after a slight pullback. The turbulent pattern, while the steel society stocks or continue to fall.