Iron ore port stocks for five consecutive weeks, overweight, approaching the high of 100 million tons; the same time, many steel mills also reduced purchases of the protocol mine, turn to a more flexible spot ore. Recently, the "overlay" phenomenon caused by the parties to worry about. Some industry insiders even worried that these put a lot of money but Shaorenwenjin iron ore, may lead ore traders collapse.
"Said the traders 'collapse' is unlikely, but the day will be very sad, small traders would be eliminated." Castle Peak Holdings, one engaged in the iron and steel products import and export of raw materials sources said.
"Corresponds to the crude steel production, port inventories of 100 million tons is still a reasonable figure." The analyst said, "In fact, the big mines 'incremental' and also to reduce."
Analysts said that the current iron ore stocks in Hong Kong belong to the amount of steel is reduced, "But steel mills is the largest, accounting for 70% to 80% belong to the traders still in the minority we are asked. the Port Authority. "
"Now is not the worst. Steel production, the ore price fall is not deep. Traders situation is difficult, but the short-term collapse Buzhi Yu, an iron and steel industry analysts believe that," between the steel still life and death game. private steel mills, did not dare cut, reality does not allow it to cut, because once stopped to get up, at least for the time being, but also to maintain the turnover of the cash flow. "
Southern Jiangsu Province a private steel mills insiders admitted that profits "only a little bit, but the sales of the company's products is not a problem.
The aforementioned steel industry source said that over the past decade, the steel industry is growing so fast, "needs to die a screeching halt, there must be rear-end of a serious surplus of out not head."
Trading capital accumulation can continue quite a while, then once the weak competitiveness of small steel mills bankruptcy, iron ore will be someone selling his analysis.
China Steel Industry Association data show that in late April this year, the average daily output of crude steel has shot up to 2.035 million tons, in early July, the national average daily crude steel output of 1.9581 million tons, the highest decreased slightly by 3.78 percent.
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