China's iron ore price index decreased volatility
Since entering October, steel prices continue downward, iron ore prices began to fluctuate within a narrow range from downstream. Demand in the market downturn, coupled with the demand is about to enter the off-season, steel production will decline, fluctuations in iron ore prices will show a downward trend.
First, China's iron ore price index decreased volatility
According to the Iron and Steel Institute monitoring, in late October, China's iron ore price index (CIOPI) to 186.34 points, down 18.02 points, a decline of 8.82 percent, down 7.90 percentage point increase the previous month. Of which: domestic iron ore price index was 199.14 points, down 4.02 points, a decline of 1.98 percent, down 1.06 percentage point increase; imported iron ore price index 182.75 points, down 21.95 points, a decline of 10.72%, a decline increased 9.81 percentage points.
From full month situation, China's iron ore price index (CIOPI) with an average of 196.93 points, the average fell 10.74 points the previous month, a decline of 5.17%, the chain from up to down. Of which: domestic iron ore price index average of 201.59 points, down 3.50 points, a decline of 1.71%; imports iron ore price index average of 195.62 points, down 12.78 points, down 6.13 percent.
Second, import prices fell more than domestic ore mine
In late October, the price of domestic iron ore tax 512.42 yuan / ton, a decline of 10.34 yuan / ton, a decline of 1.98%; CIF import iron ore fines was $ 49.36 / mt, down $ 5.93 / ton, a decline of 10.72 % decline higher than domestic ore 8.74 percentage points.
Domestic iron ore prices showed a slight downward trend fluctuations, the average monthly price for the whole tax 518.72 yuan / ton, down 9.01 yuan / ton, a decline of 1.71%. Where: October 8 to 12, up from the 523.78 yuan / ton, slightly to 524.68 yuan / ton; October 12 to October 29, all the way down to 511.30 yuan / ton; 30 October rebounded slightly by 29 511.30 yuan / ton rose slightly to 512.42 yuan / ton.
Imported iron ore fines full month average CIF price of $ 52.84 / ton, down $ 3.45 / ton, a decline of 6.13%. Where: 8 to 9 October, from $ 55.32 / ton fluctuations rose to $ 56.06 / t; 9 to 16 October, from $ 56.05 / ton down to $ 53.08 / ton; from October 16 to 10 May 19, up slightly from $ 53.08 to $ 53.27 / ton; from 19 to 29 October, from $ 53.27 / ton all the way down to the lowest point of the whole month of $ 49.18 / ton; November 29 to the end, by the $ 49.18 / ton rose slightly to $ 49.36 / ton.
Third, the late iron ore price trend analysis
Since entering October, steel prices continue downward, iron ore prices fluctuate downward, the market demand is still sluggish, iron ore port stocks and a slight decline in business inventories, iron ore import volume was essentially flat with last year, the oversupply situation still no significant improvement in the late iron ore prices will show a downward trend in volatility.
1, steel prices continued to slump, the market demand for more severe
In late October, CSPI domestic steel composite price index was 59.44 points, 23.65 points over the beginning of decline, a decline of 28.46 percent, has dropped for 10 weeks; 1--9 months, the national crude steel apparent consumption of 533 million tons, down 5.82%, higher than the crude steel production fell 3.68 percent. With the advent of off-season market demand, steel market demand situation is even more severe.
2, imported iron ore stocks declined slightly, the iron ore market oversupply has not changed
According to the Iron and Steel Association statistics, in late October, 26 key enterprises, 22.62 million tons of iron ore stocks, down 5.99%; China imported 84.45 million tons of iron ore port stocks, a decline of 1.25%. 1--9 months, the national pig iron production decreased by 17.82 million tons, while iron ore imports increased by 220,000 tons, iron ore market oversupply contradiction has not changed.
3, steel production and operation of enterprises difficult, imported ore prices will fluctuate downward
According to the Iron and Steel Association statistics, 1--9 months, members of the iron and steel enterprises realized sales revenue fell 19.26%, breakeven profit -281.22 million, a loss of 48.51 percent reached. In the weak demand, production and operation difficult circumstances, is expected to post import iron ore prices will continue fluctuating downward trend.