The latest report issued by China Iron and Steel Association (hereinafter referred to as “China Steel Associationâ€) shows that its member companies produced a total of 14.17 million tons of crude steel in late September. The national estimate is 16.78 million tons, and the average daily output is 1.417 million and 167.8 respectively. Ten thousand tons, a net increase of 112,000 and 131,000 tons respectively from the middle of the month.
In mid-September, the country's crude steel output was only 15.47 million tons, and the average daily output reached 1.547 million tons, down 9% from the previous year, the lowest level since this year.
Market risk! Retail investors should leave as soon as possible? Which stocks are worth buying at full positions? Some stocks are likely to rise by 50%! Institutional funds have changed a lot now.
“Some provinces and municipalities have relaxed their energy-saving emission reductions and resumed production, which is the main reason for the rebound in production in late September.†Hu Yanping, a joint metal analyst, told the “First Financial Dailyâ€.
According to this newspaper, some steel mills in Hebei have learned that, in fact, the “hard-hit areas†steel mills that had been discontinued since the end of September have already resumed large-scale production. After entering October, more than 95% of the steel mills in Tangshan have resumed production.
From the beginning of August to the beginning of September, Hebei, Shanxi and other provinces set off a storm of energy conservation and emission reduction. Among them, nearly 20 steel mills in Wu'an City, Hebei Province, China's largest steel producing province, were shut down. The limit of production of some steel mills in Tangshan is even more limited. Once reached about 70%.
Earlier, some analysts estimated that if the previous energy-saving and emission reduction trend is maintained, the domestic crude steel output will be reduced by at least 30% in the fourth quarter, and the monthly production of pig iron may fall back to about 45 million tons. The actual demand for imported iron ore will be higher than that of the first half of this year. A drop of 4 million to 4.5 million tons / month.
Under the impact of this news, the spot price of iron ore fell rapidly. From the end of August to the end of September, the iron ore spot market price and turnover have been sluggish. Iron ore swap trading broker, FIS senior iron ore and freight derivatives broker Li Meng told this newspaper that since late September, iron ore prices have suddenly started to rise, and iron ore swap prices during the National Day are also rising. .
In the first week after the National Day, in terms of domestic mines, the price of refined fines in Hebei quickly broke through 1,200 yuan/dry ton, up 5.3% from a month ago, the highest level in the past five months; the spot price of imported mines also rebounded significantly. The price of wet ton base 63.5% Indian powder ore also exceeded 1,200 yuan / ton, up 5.4% from a month ago, the highest point in more than four months.
The person in charge of a steel mill in Wu'an said that most of the steel mills are now equipped with self-sufficient power plants, which can make up for the government's power cuts. With loose policies and a better market, production can increase rapidly.
Hu Yanping also confirmed that from the end of September, the iron and steel emission reduction in Tangshan and Wu'an areas gradually loosened, and some production capacity resumed production. Among them, Tangshan area no longer implemented the previously limited production of various steel mills, but changed the electricity consumption limit of each steel mill. . The Wu'an area also adopts a power-limiting indicator, and each steel mill restricts its monthly electricity consumption by 30% to 50%, and each of them adjusts production according to its own situation.
Hu Kai, a joint metal analyst, said that in the next few months, the national steel output should maintain the level in mid-September, and there will be no further decline. It is optimistic that the crude steel output in October-November may increase from August to September. He believes that the iron ore demand in the fourth quarter of this year may not be as low as previously expected, driven by the resumption of steel mills. Since the end of September and the increase in the output of domestic steel mills in October, steel mills have increased demand for supplementary raw materials, which has rebuilt the confidence of the spot iron ore market.
According to the agreement reached between the mine and the steel mill, the long-term contract price of Australian iron ore in the fourth quarter is US$127/ton, and the combined land freight price is US$140/ton, which is no advantage compared with the spot iron ore price. Hu Kai believes that the current spot iron ore prices are on the rise and will soon have a significant premium on long-term contract prices.
In mid-September, the country's crude steel output was only 15.47 million tons, and the average daily output reached 1.547 million tons, down 9% from the previous year, the lowest level since this year.
Market risk! Retail investors should leave as soon as possible? Which stocks are worth buying at full positions? Some stocks are likely to rise by 50%! Institutional funds have changed a lot now.
“Some provinces and municipalities have relaxed their energy-saving emission reductions and resumed production, which is the main reason for the rebound in production in late September.†Hu Yanping, a joint metal analyst, told the “First Financial Dailyâ€.
According to this newspaper, some steel mills in Hebei have learned that, in fact, the “hard-hit areas†steel mills that had been discontinued since the end of September have already resumed large-scale production. After entering October, more than 95% of the steel mills in Tangshan have resumed production.
From the beginning of August to the beginning of September, Hebei, Shanxi and other provinces set off a storm of energy conservation and emission reduction. Among them, nearly 20 steel mills in Wu'an City, Hebei Province, China's largest steel producing province, were shut down. The limit of production of some steel mills in Tangshan is even more limited. Once reached about 70%.
Earlier, some analysts estimated that if the previous energy-saving and emission reduction trend is maintained, the domestic crude steel output will be reduced by at least 30% in the fourth quarter, and the monthly production of pig iron may fall back to about 45 million tons. The actual demand for imported iron ore will be higher than that of the first half of this year. A drop of 4 million to 4.5 million tons / month.
Under the impact of this news, the spot price of iron ore fell rapidly. From the end of August to the end of September, the iron ore spot market price and turnover have been sluggish. Iron ore swap trading broker, FIS senior iron ore and freight derivatives broker Li Meng told this newspaper that since late September, iron ore prices have suddenly started to rise, and iron ore swap prices during the National Day are also rising. .
In the first week after the National Day, in terms of domestic mines, the price of refined fines in Hebei quickly broke through 1,200 yuan/dry ton, up 5.3% from a month ago, the highest level in the past five months; the spot price of imported mines also rebounded significantly. The price of wet ton base 63.5% Indian powder ore also exceeded 1,200 yuan / ton, up 5.4% from a month ago, the highest point in more than four months.
The person in charge of a steel mill in Wu'an said that most of the steel mills are now equipped with self-sufficient power plants, which can make up for the government's power cuts. With loose policies and a better market, production can increase rapidly.
Hu Yanping also confirmed that from the end of September, the iron and steel emission reduction in Tangshan and Wu'an areas gradually loosened, and some production capacity resumed production. Among them, Tangshan area no longer implemented the previously limited production of various steel mills, but changed the electricity consumption limit of each steel mill. . The Wu'an area also adopts a power-limiting indicator, and each steel mill restricts its monthly electricity consumption by 30% to 50%, and each of them adjusts production according to its own situation.
Hu Kai, a joint metal analyst, said that in the next few months, the national steel output should maintain the level in mid-September, and there will be no further decline. It is optimistic that the crude steel output in October-November may increase from August to September. He believes that the iron ore demand in the fourth quarter of this year may not be as low as previously expected, driven by the resumption of steel mills. Since the end of September and the increase in the output of domestic steel mills in October, steel mills have increased demand for supplementary raw materials, which has rebuilt the confidence of the spot iron ore market.
According to the agreement reached between the mine and the steel mill, the long-term contract price of Australian iron ore in the fourth quarter is US$127/ton, and the combined land freight price is US$140/ton, which is no advantage compared with the spot iron ore price. Hu Kai believes that the current spot iron ore prices are on the rise and will soon have a significant premium on long-term contract prices.
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