Publicado: Sep 21, 2023 07:45
Summary of SMM Steel Morning Meeting: Affected by Multiple Factors, Iron Ore Prices are Unlikely to Increase Further. Tangshan domestic concentrate prices increased by 20 yuan/ton compared with last week, and the tax-included ex-factory price of 66 grades was 1110-1130 yuan/ton. On the supply side, there was no new progress in the resumption of mining, and the amount of ore imported to Tangshan from the surrounding area was limited. The resources of high-grade ore were obviously higher, and the profits of ore selection plants were shrinking. Some high-grade and low-titanium resources were at the break-even point, combined with the low inventory of ore dressing, which had strong support for the price. On the demand side, the production of iron in steel mills was still at a high level, and the demand for iron powder was still strong. However, considering the profits of steel mills and the current high prices, steel mills are expected to have strong willingness to reduce prices in the later period, and local ore prices are expected to remain stable.

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Summary of SMM Steel Morning Meeting: Affected by Multiple Factors, Ir - Shanghai Metals Market (SMM)