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Price Decline of China’s Iron Ore Caused Chain-reaction

By CFM , 2015-07-07 02:02:47

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As the price within China’s Steel Market declines in a great degree, the phenomenon of “Sell into Corrections” among sellers is increasing too. Iron ore market across the world undergoes a fluctuation temporarily and turns to the decline at last with an accelerating decline of iron ore price.

Based on the latest market report, the future market of steel continued its declines with a price decreased to 1,800 CNY per ton. Correspondently, the spot market of steel suffered from the price declining. Decreasing demand from downstream industry should be the main cause of the price decline of steel. Decreased demand urged steel factories to lower their ex-factory price, assuring none the confidence to stay firmly on this far more competitive market.

On the market of construction steel, the decline was growing when in particularly in Shanghai, Hangzhou, Fuzhou, the price per ton has decreased 20 to 100 CNY within a week. Under such a circumstance, the market price of steel has dropped away from the ex-factory price. Even to reduce the production of steel, it would do no help to convert the choice of merchants to clear their storage. Decline continued too on the market of steel sheet, in particularly the hot rolled strip and coils.

By July, the storage of iron ore in main ports of China has firstly welcome an increase of 3.05 million ton to a total volume of 81.85 million ton after undergoing a continuous ten-week decrease since late April. China’s steel factories continue their loss with a decreased demand, which will later bring a reversion to supply and demand of iron ore.

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