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For the first time, the three major mines have “songkou†on iron ore pricing.
Traders face huge losses, producers ushered in a breather. Yesterday, reporters learned from large local steel companies in Guangdong. Based on China's reduced demand for iron ore, the three major mines such as Brazil's Vale have “slotted†for the first time and decided to follow the current index price. Adjusted iron ore prices for the fourth quarter, from $175 to $160 per ton. This is the first price compromise in the three major mines to implement a flexible pricing model, which has made the Chinese steel mills in a loss state have more breathing opportunities. According to the statistics of the United Metals, the iron ore stocks of 34 ports in China are at an all-time high of 98.8 million tons, and many ports have different levels of pressure. The reporter learned from Qingdao Port and other ports yesterday that due to the optimistic trend of the late mining price, some traders smashed tens of tons of goods shortly after the year, and tried to sell them to the steel mills after the price rose. The data shows that imported iron ore reached its highest point in the year on February 18, 2011, and 63.5% of the FOB price was about US$180/ton, equivalent to a CIF price of US$196/ton, and then began in July this year. Iron ore prices have also risen all the way, but never exceeded the previous high. Many traders smashed goods when the iron ore price was around 190 US dollars, and the current iron ore has dropped to the price of 160 US dollars. This has caused huge losses to the middlemen who previously hoarded iron ore. Since October 2011, imported mines have plummeted. The CIF price of 63.5% of the mines yesterday has fallen to $160/ton. At present, the domestic steel market situation is still not good, and the demand for ore will also be weakened. In the reality that iron ore and steel prices have fallen, steel mills are not optimistic about the later market. The person in charge of a large steel mill in Wuhan said that the overall demand for steel is currently bleak, and it is estimated that iron ore prices will continue to fall in October and November. It is understood that due to the impact of real estate regulation and delays in the progress of some infrastructure construction, the October market in the peak season of steel sales has completely failed, resulting in the direct decline of the demand for downstream steel billets such as steel strips and threads. Some steel products have nearly 300 yuan in two weeks. / ton of plunge. The analysis predicts that the large amount of investment attracted by the surge in iron ore prices in recent years will generate a large amount of production capacity in a few years, and the global iron ore supply and demand relationship has been reversed in advance.