SunSirs: Analysis of Import Ore Price Trends from February to March
February 24 2020 15:29:48 SunSirs (Molly)
Price trend
After the Spring Festival holiday, domestic imported ore prices fell sharply for a week, and then quickly rose back for 10 consecutive days, showing a "deep V" trend, and the overall market fell first and then rose. The decline in the ore price in the early stage was mainly due to the sharp declines in external disk prices, the general index and other factors, as well as the high accumulation of steel mill inventory before the Spring Festival, and the delay in demand. The current rebound is mainly due to the acceleration of steel mills' resumption of work, increased inventory consumption, gradual recovery in demand, and continued rise in futures market prices.
According to SunSirs price data, as of February 21st, the average price of 62% PB powder ore in Australia was RMB 671.67 per wet ton, Brazil's 63.5% coarse powder was 718.88 RMB per wet ton, and 62% of the printing powder price was 615 Yuan / wet ton, respectively, rose 9.83%, 6.36%, and 8.95% from the lowest points in February, and the year-on-year increases were 4.48%, 10.64%, and 2.79%.
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