98 million tons of steel association is inventory, vice President of Zhang Changfu and secretary-general of the public has revealed. ZhangChangfu said, the average is 98 million tons of iron ore in us $165 / mt high to buy, but now the price has fallen to $30 or 40, how to digest the high price ore is steel mills and traders very great pressure.
However,NetEase financial investigation found that the number of parties statistics are different. November 2, the Xinhua News Agency released the date at the end of October is 93 million tons, the international iron ore trade center (rizhao) given data is 91 million tons. But to be sure, a recent two months since, the domestic ports of total inventory has been hovering above 90 million tons, reach a high record .
To this, the calculation of the data is, every tons of iron ore fell $30 estimation, the port of inventory unrealized loss could reach 17 billion yuan RMB. And my steel nets measurement data is if every tons of iron ore fell $50 / tons, the October port inventory iron ore retreat will be as high as $4.6 billion (about 27 billion yuan).
High inventory is not all traders close-knit, including three ore traders will also be part of his iron ore in the pile up in a port waiting for a deal. In addition is mainly domestic size steel mills and there are a number of raw materials in the port. These reddish brown rocks or fine powder are now still managed to hold their own price trend.
Concern is, although light trading market, but in November, China's imports of iron ore prices no longer in the same month last fall as 10, 63.5% of India's ore prices in the 130-us $132 / mt, part of the spot price drop stop, there's even a $2 a rebound. But for the future price, and the parties reaction is not all the same.
On November 1, one of the three major ore business the CVRD chief executive martins has looking, there are signs that winter is approaching will make China's local reducing the supply of iron ore, iron ore prices will rebound in mid-november. At the same time, China's new announced measures or will make credit policy normalization, this will also affect iron ore demand.
But, the domestic steel industry is the voice of many pessimistic. One is the steel prices are falling obvious influence on the situation of the steel expected, and the second is the so-called iron ore prices of inflection point by more and more response. Have analysis even think that iron ore, the lowest price will touch us $90 / mt.
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