On June 8, black commodity futures price trend differentiation, rebar, hot coil and iron ore futures continue to maintain low shock, the end of the decline significantly narrowed, double coke afternoon began a round of rapid rebound, the end of the successful turn red. Futures plate has stopped falling signs of stabilization, iron ore as an important raw material for steel end, become the core factor to support steel prices. In the news: Vale has suspended production at the Timbopeba iron ore mine due to the suspension of operations at its Estradade Ferro Vitoriaminas (EFVM) railway in Fabricanova section, the company said. Vale will not be able to transport iron ore from its Timbopeba mine after the local Labour authority ordered a suspension of mining activity near the Xingu dam in the Aegria mine. The suspension of Timbopeba by Vale, which will affect 33,000 tonnes of iron ore production capacity per day, has sparked speculation in the iron ore market.
In addition, there is a heavy news: tangshan city to deal with the pollution process on June 8 solstice 10 notice: tangshan city June 7 22 to 10 20 on the implementation of the following emission reduction measures, the follow-up will be combined with near forecast to arrange again. One, every day from 22 to 9 o ‘clock the next day, the sintering machine of iron and steel enterprises stopped production, Shougang Qianggang and Shougang Jingtang maximum independent emission reduction; Casting (except electric furnace) and independent steel rolling (except electric heating) enterprises stopped production. II. Production of brick kilns (except non-sintered bricks); Coking enterprises to extend the coke time, the corresponding period of time to reduce the amount of coke 36%(in terms of coke oven). 3. From 22:00 every day to 9:00 the next day, all kinds of construction sites (except for emergency rescue) shall stop the operation of non-road mobile machinery; The muck truck stopped moving. Four, every day from 2 to 9, cement enterprises rotary kiln production.
The current steel market sentiment is weak, weak trading volume performance, steel factory prices continue to fall. With the arrival of high temperature and rainy season, the terminal demand is difficult to show, the current steel inventory to slow down the pace of gradual, with the 100th anniversary of the founding of the Communist Party of China is approaching, construction safety inspection, transportation and weak off-season demand on the market is increasing. We predict that the late steel prices still have a small reduction in space. Steel prices after a period of adjustment, steel profits have fallen to the cost line near the same time, long and short factors game, steel prices fall space is limited.
Post time: Jul-09-2021