Shanghai Steel recent weakness does not change, began to rebound blocked by the end of July, early August re-emergence of a down market, a record low of 3631. From the spot market by the end of July, a slight rebound failed to extend the re-emergence of panic fell in early August, the weak demand situation is still no improvement. For the current steel prices, weak demand has been short-term difficult to reverse negative factors, the market has been a certain consensus. Manufacturing costs as steel (3680,7.00,0.19%), the largest differences of the market, while iron ore prices is the biggest factor to affect the cost of steel.
Outside the mine is still the key to affecting the price of iron ore
China's crude steel output this year will reach 700 million tons, about 1.6 tons of 62% of the iron ore grade calculation to produce 1 ton of crude steel this year about 11.2 tons of 62% of the iron ore grade.
Calculated changes in the last year, imports of iron ore and iron ore port stocks of China last year, the consumption of iron ore imports reached 650 million tons, nearly 60 percent dependence on imported iron ore. Domestic mines to steel mills owned mines, more related party transactions. From the point of view of the situation in previous years, the domestic price of iron ore is the basic and the prices of imported iron ore with up or down, and the pricing of iron ore is still in the hands of foreign mines, so an impact on imported iron ore price change the key to the overall price trend of the domestic iron ore.
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