Iron ore is still mainly affected by the Platts index. Recently, the Platts index of CCS Grade D ship steel plate has rebounded greatly, and even iron has passively followed up. The contract in recent months is slightly discounted to Platts, and it is significantly narrower than last month. Port inventories remained at around 80 million tons, compared with the same period last year, with 100 million tons, the port inventory was low.
Due to weather and equipment repairs in Australia and Brazil since June and July, shipments have declined, which has been reflected in the Platts index, but the high output of foreign mining arrangements will not change much this year. . The number of ore arrivals from major ports has not increased significantly. From the time lag of shipment to arrival, port inventory rebound in August should be imminent. However, as Liantie is closer to the Platts index, changes in domestic port inventory may no longer be the most important factor affecting futures market prices. The cost of external mines has always been lower and has higher pricing power than domestic steel mills. Domestic steel mills' demand for iron ore has been relatively stable in recent years, and has slightly increased. It is also unlikely that demand will shrink significantly in the short term. Therefore, CCS D ship steel plate prices are the most reflective of commodity financial attributes in the black industry chain. of. The market has fully responded to its expectations of future supply. Considering the impact of changes in financial attributes and global commodity trends on iron ore prices, we believe that the space for decline is shrinking.
Affected by the greater uncertainty at the cost end, coupled with the large-scale losses of steel mills, there is little room for steel prices to fall in the short term, and it is necessary to accumulate potential shocks. On July 31, Beijing, China joined hands with Zhangjiakou to obtain the right to host the 2022 Winter Olympics. Recently, Hangzhou intends to bid for the 2023 Asian Games. From the current situation, Hangzhou may be the only city to bid for it, with great opportunities for success. All these news have encouraged steel companies, and the industry is expected to drive the recovery and recovery of China's steel industry in the future.
