Recently, the regulatory authorities have continued to increase the supervision of iron ore. Recently, regulators have asked some trading companies to provide trading records of iron ore over the past three months, including the quantity, price, target and time of buying and selling iron ore, according to market people.
Market participants pointed out that the recent high-level frequent voices for mineral prices, the main contract of iron ore futures fell sharply, iron ore port inventory is expected to show a downward trend, the short-term market will show a weak trend of volatility under the long-short game. Pay attention to the resumption of production of steel mills in the future, as well as the actual response to the demand for finished products.
Iron ore supervision increases
Recently, regulators have continued to increase their efforts to regulate iron ore. On February 15, the NDRC said that in view of the recent changes in iron ore prices, the NDRC Price Department, the Price Supervision and Competition Bureau of the General Administration of Market Supervision, and the Futures Department of the CSRC jointly held a meeting to understand in detail the changes in port stocks of iron ore trading enterprises and their participation in iron ore spot and futures transactions, remind and warn relevant enterprises not to fabricate and publish false price information, not to fabricate and spread price increase information, and not to hoard. Do not maliciously hype, do not bid up the price.
In view of the recent abnormal situation that the supply and demand of the iron ore market is generally stable but prices have risen sharply, the National Development and Reform Commission said again on February 15 that recently, the Price Department of the National Development and Reform Commission and the Price Supervision and Competition Bureau of the General Administration of Market Supervision went to Qingdao to conduct joint regulatory research. The research team has a comprehensive understanding of the changes of iron ore inventory in Qingdao Port and draws a list of enterprises with rapid inventory growth.
In addition, the regulatory authorities also held a special meeting to warn some iron ore trading enterprises, demanding that excessive stocks be released and restored to a reasonable level as soon as possible, and provide details of recent changes in iron ore stocks, specific time, quantity and price of buying and selling, and cooperate to check whether there are illegal and illegal acts such as hoarding and driving up prices.
Iron ore is expected to run weakly.
Market participants pointed out that the current iron ore market is seasonal off-season. In terms of inventory, the reduction at the port and the unloading capacity at the port are still limited, due to the overhaul of blast furnaces in the north during the Spring Festival, the normal operation of blast furnaces in the south, the low pick-up speed of steel mills, the average daily dredging volume of the port remains low, and the inventory of steel mills has dropped sharply. Port inventory continues to accumulate.
The black team of Haitong Futures Investment Consulting Department told the Financial Associated Press that shipments from Australia and Pakistan and arrivals to Hong Kong have declined, which is in line with the off-season characteristics of shipments in the first quarter, but the demand side is still suppressed by the production restriction policy, and the port and warehouse are high in the same period, and the fundamentals of iron ore are weak.
Market participants expect that the current iron ore supply side to maintain the off-season characteristics, port inventory is still historically high, iron ore is expected to operate under pressure.
