Shanghai January 10 Xinhua News Agency Reuters topic: domestic steel market rose to expand iron ore stocks rose to stage high point

Due to the strong influence of the futures market, the domestic spot steel market extended gains. But the demand is not sustained release. Iron ore prices were slightly weaker, mining city of inventories have risen to high stage.

Last week, the domestic spot steel prices. The week, early in billet prices rose and led to strength in the futures market, the spot steel prices rose significantly. However, the demand was not sustained release, combined steel production complex dynamic enhancements, new resources complement gradually put in place, lack of willingness to market very price. The latter part of the week, business confidence has declined, there appears Paohuo realizable phenomenon.

In the construction steel market, the overall price rise. Shanghai, Jinan, Guangzhou and other places t price week rose 10-110 yuan. But the price is a total of Hangzhou, Nanchang and other individual areas fell slightly. In Beijing, Tianjin market, the price quickly pull up the first round, will soon market transactions blocked. However, the current inventory is still low, businesses after completion of the expected sales volume continues to increase offer.

In the plate market, prices generally rise. Hot rolled coil prices rose sharply, but a closer look at specific market, in Shanghai, Hefei, Guangzhou and other places, the general situation is finished lower, after the transaction slip, prices a certain callback. Moreover, the late New resources would increase the supply pressure on the market. Plate prices also rose sharply, Shanghai, Guangzhou, Wuhan and other places about a week t price rose 10-60 yuan. Currently, tight resources can be sold for the price of a certain role in supporting the market, but the subsequent injection of new resources, supply and demand pattern will change.

Iron ore market in a weak market in the fall. According to the “West of the Shinkansen,” the latest report, the domestic ore market in Hebei iron ore fines price holiday run smoothly. Despite the recent steel market has been warmer, steel production complex power will be increased, but signs of the actual commencement of construction steel no recovery, demand for domestic ore is still relatively low. Festival continuous imported iron ore prices fell slightly, as of the 7th, Platts 62% grade iron ore index closed at 41.7 US dollars per ton, down $ 1.55 compared with before the holiday. Currently, the supply of international mainstream mining enterprises are still increasing, while the average daily domestic crude steel production has continuously dropped Lent, iron ore oversupply pressure is still large. Festival, iron ore port stocks rose significantly, hitting a new high since April 2015.

Relevant institutions analysts believe that the recent three-week period, the accumulated domestic steel prices rose on average per ton has more than 200 yuan. With the Spring Festival approaching, the end demand steel market will inevitably decline, the wishes of profitable merchant cash resources will be enhanced. Short-term, domestic steel prices facing some pullback pressure.