Global Iron Ore market continues bearishness

The concentrate price index of domestic iron ore stood at 994.8 yuan/mt last week, up 7.4% from a week earlier. Domestic iron ore prices in the main regions rose 20-130 yuan/mt, mainly due to the following reasons. First, the steel mills have higher demand for iron ore after the National Day holiday. And the domestic ore output in some regions trended lower amid power rationing, torrential rain, transportation restrictions, but recovered slowly from the second half of last week. Meanwhile, the price increases of imported iron ore early last week boosted the domestic ore prices.

Offers of spot iron ore rose 5-10 yuan/mt on Monday May 14 as prices of futures continued to perform strongly

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A total of 73 vessels with 10.72 million mt of iron ore are expected to arrive at major Chinese ports during May 4-10, SMM learned.

Iron ore inventory at 35 Chinese ports amounted to 149.32 million mt as of Friday March 23, up 1.32 million mt from a week ago, SMM data showed.

Spot steel prices in China soared on Friday. Spot billet prices in Tangshan gained RMB 100- 120 a ton, according to The Steel Index. 

Global flat steel product selling figures have been on an upward trend throughout 2016, according to MEPS research.

Prices for Taiwanese containerized HMS # 1&2 80:20 imports down to $213 a ton during the week ended September 02, as per the latest figures from The Steel Index.

Mirroring China’s recent unpredictable weather, the country’s ferrous markets turned southwards again after Thursday’s rebound, said The Steel Index.

Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) gained sharply by $27 a ton week-on-week to $310 a ton during the week ended April 29.