CISA: Iron ore prices likely to move on a fluctuating trend in July

Friday, 06 July 2018 10:13:44 (GMT+3)   |   Shanghai
       

According to a new report issued by the China Iron and Steel Association (CISA), as of June 30 this year imported iron ore inventory at Chinese ports totaled 156 million mt, down 4.61 million mt or 2.87 percent month on month and rising by 8.09 percent year on year.

According to the CISA, as of June 30 this year, the composite steel price index (CSPI) was down 1.28 percent compared to that recorded on June 15. As for the coming period, due to high temperatures and the rainy season the steel industry will face a situation of oversupply.

In the June 1-20 period this year, the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members - totaled 1.99 million mt, indicating an average aggregate daily crude steel output for all steelmakers in China of 2.5337 million mt, down 3.18 percent compared to May and resulting in slacker demand for import iron ore.

Due to the oversupply situation in the finished steel market, the iron ore market will also likely see oversupply. Import iron ore prices for China will likely fluctuate within a limited range in July, the CISA said.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials