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Prices of China’s domestic iron ore concentrates showed different movements by region again over October 8-11, with those in North China’ Hebei province down by Yuan 5-7/tonne ($0.7-1/t) while the offering and dealing prices in East and South China up Yuan 10-40/t as local steel mills needed to replenish some volumes amid low in-house stocks, Mysteel’s latest weekly survey showed.
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Steel inventories at both traders and steel mills reversed down over October 9-10 after increasing markedly during China’s National Day holiday over October 1-7, according to Mysteel’s latest survey published on October 11. The stock levels thinned mainly because traders and end-users returned to the market after the holidays with renewed vigour for buying, but market sources remain concerned about stock digestion in the future.
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Average daily production of iron ore concentrates among the 186 Chinese mining companies under Mysteel’s bi-weekly survey dipped again over September 27-October 10 to 473,200 tonnes/day, the lowest daily output since February. The continuous decline was mainly a result of the production suspensions in some regions during China’s National Day holiday week, and the ban on the use of explosives imposed on many domestic mining companies.
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China’s domestic iron ore concentrate prices diverged over September 23-27, with prices in North and Northeast China up Yuan 10-40/tonne ($1.4-5.6/t) while those in East and South China down Yuan 10-45/t as the former is expected to experience supply tightness amid mining suspensions with no explosive distribution, Mysteel’s latest weekly survey showed.
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Daily iron ore concentrates output among the 186 Chinese mining companies Mysteel monitors continued to dip over September 13-26 to 500,600 tonnes/day, the lowest daily output since May 9, according to Mysteel’s latest survey on the market. The decline was mainly due to the ongoing production suspensions in some regions as an anti-pollution measure.
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Prices of domestic iron ore concentrates across China rose again in most ore-producing regions by Yuan 10-40/tonne ($1.4-5.6/t) over the September 16-20 week in the wake of the upward trend of imported iron ore prices, according to Mysteel’s latest survey. But the domestic mills shrugged and just bought ore as needed during the week.
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The most-traded rebar contract on the Shanghai Futures Exchange, that for deliveries in January 2020, lost another Yuan 59/tonne on September 20 from the previous day’s settlement price or by a total of Yuan 161/t on week over the September 12-20 week to end the daytime trading session at Yuan 3,388/t.
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China’s domestic iron ore concentrate prices in the country’s main ore-producing regions rebounded over September 9-12, rising by Yuan 10-44/tonne ($1.4-6.2/t) from September 6, following the upward trend in prices of imported iron ore, according to Mysteel’s latest weekly survey.
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Average daily production of iron ore concentrates over August 30-September 12 among the 186 Chinese mining companies under Mysteel’s bi-weekly survey declined to a three-month low of 517,700 tonnes/day, with those in a few regions being chiefly responsible for the fall, according to the latest survey on the market.
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Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market.
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Prices of domestic iron ore concentrates across China remained out of step with imported iron ore prices over the September 2-6 week, with offer prices for the former dipping by another Yuan 15-30/tonne ($2.1-4.2/t) while prices of the latter recovered, according to Mysteel’s latest survey.
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China’s domestic iron ore concentrate prices dipped again over August 26-30, falling by another Yuan 3-70/tonne ($0.4-9.8/t) on week, with offer prices being lower than procurement prices from Chinese steel mills as sellers tried to increase sales, according to Mysteel’s latest weekly survey.
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Daily iron ore concentrates output among the 186 Chinese mining companies remained largely unchanged on week over August 16-29 at 519,400 t/d after a robust July, as China’s domestic steel market went into contraction starting August, according to Mysteel’s latest survey on the market.
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China’s domestic iron ore concentrate prices continued trending downward over August 19-23, with steel mills in Northeast China’s Liaoning province and in East China’s Shandong and Anhui provinces continuing to cut their buying prices of concentrates by Yuan 20-60/tonne ($2.8-8.4/t), according to Mysteel’s latest weekly survey, keeping pace with imported iron ore prices which softened further.
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China’s domestic iron ore concentrate transaction prices in nearly all core-producing regions stayed on a downtrend over August 12-16 when imported iron ore prices showed no signs of revival, and the week-on-week decline ranged Yuan 20-145/tonne ($2.8-20.6/t), according to Mysteel’s latest weekly survey.
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Daily production of iron ore concentrates among the 186 Chinese mining companies under Mysteel’s bi-weekly survey dipped for the first time in months over August 2-15 to average 519,300 tonnes/day, nearly a two-month low, after increasing for seventh consecutive survey periods since April 25, according to Mysteel’s latest survey on the market.
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China’s domestic iron ore concentrates prices movement diverged in an overall sound market over July 29-August 2, ranging from a weekly decline of Yuan 24/dmt ($3.5/dmt) to a weekly jump of Yuan 40/wmt, as local fundamentals varied by region and domestic supplies are trying to maintain its competitiveness in the market, according to Mysteel’s latest weekly survey.
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Daily iron ore concentrates output among the 186 Chinese mining companies continued to hit new highs since Mysteel commenced the larger-scale study in January, and it went up another 800 tonnes/day or 0.2% on a fortnight to 525,200 t/d on average over July 19-Augsut 1.
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Domestic iron ore concentrate prices across China generally stabilized in major ore-producing regions over July 22-26, as miners were optimistic about the market and unwilling to cut their prices, even though prices of imported ore had dipped during the week, according to Mysteel’s latest weekly survey released late last Friday.
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Blast furnace capacity utilization among the 247 integrated steel mills across China which Mysteel tracks remained at a relatively high level of 80.73% during the week of July 19-25, with the average rate rising by a tiny 0.3 percentage point and bringing an end to six successive weeks of decline, according to Mysteel’s latest weekly survey released on July 26.
