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Limited demand increase, iron ore market will be weak

2019-10-30 15:34:42
Recently, the price of iron ore rebounded strongly. The main rebound was based on the fact that the impact of the Australian port maintenance on the shipping rhythm began to appear. The import volume of imported iron ore dropped significantly. The shipment volume of Brazil has not increased significantly. Production and port resumption have returned to normal, and the surge in iron ore stocks at the port has been alleviated. On the other hand, the absolute volume of steel ore stocks in steel mills has continued to decline. If the steel mills limit production, there will be some replenishment expectations. As of October 18, the main contract for iron ore closed at 634.5 yuan / ton, a weekly increase of 3.00%; the port of mainstream imports of fine ore increased by about 10 yuan / ton, a single day volume followed the disk rebound.
Looking ahead to the market, the total shipments in Australia will not change due to short-term maintenance. After Brazil's annual target value is lowered, the market supply will decline, but the overall range is small. As a whole, the medium-term supply of imported iron ore is increasing. The medium-term rising trend of imported iron ore inventories remains unchanged. The short-term arrival in Hong Kong is only the basis for the rebound. The medium-term iron ore price fluctuations are difficult to change and continue to exert upward pressure. Will continue to increase.