Iron ore prices in Dalian in 2019 increased by about 140%. Spot iron ore price reached 93 USD / ton, up 28% compared to 2018.
Data from the China Iron and Steel Association (CISA), the country’s iron ore index (CIOPI) reached 331.49 points on December 30, 2019, an increase of 0.16%, equivalent to 0.51 points compared to only Previous issue dated December 27, 2019.Among them, the price index of domestic iron ore market reached 322.19 points, down 0.09% or 0.29 points compared to the previous price index, the price index of imported iron ore reached 333.25 points. , increasing by 0.2%, equivalent to 0.67 points compared to the previous index.
Iron ore prices in Dalian on December 31, 2019 increased and had the strongest year since 2016 at nearly 140%, fueled by supply during the early year of disruption and increased demand for Chinese iron ore.
The price of iron ore in May 2020 on Dalian floor increased 0.6% to 649 CNY (92.95 USD) / ton, in the context of steel futures prices and iron ore spot prices increased.
The price of iron ore in January 2020 on Singapore floor increased 0.6% to 90.69 USD / ton.The price of iron ore 62% Fe spot to China increased 1 USD to 93 USD / ton, consulting firm SteelHome said.
For the whole of 2019, the spot iron ore price increased by 28% compared to the end of 2018, reaching a peak of 126.5 USD / ton on July 3, 2019. Iron ore prices have risen as a result of the dam failure at the Vale mine in January 2019 and the closure of the mine in Brazil, problems affecting the operation of Australian mines in early 2019.
Spot iron ore prices fell back in the second half of this year as exports to the leading steel producer – China – increased, boosting supply in the spot market and possibly further weakening next year.
Iron ore prices this year are supported by the rising demand for raw materials for steel production of Chinese steel mills.Daily crude steel output of China in November 2019 increased compared to October 2019, as steel mills benefited from high profits and strong demand.
China’s crude steel output in 2019 is forecast to reach a record high of 988 million tons, but is expected to decline next year to 981 million tons in the context of the economic downturn, the China Metallurgical Planning and Research Institute said.
On the floor of Shanghai, rebar prices rose 0.6% and hot rolled coil prices rose 1.1%. Stainless steel prices rose 1.6%.
The price of coking coal on Dalian trading floor increased by 1.8% and the price of coking coal increased by 1.2%.
Other information:
Steel ingot: Import of Taiwanese steel billet (China) in November 2019 reached 149,000 tons, an increase of 38% compared to November 2018, turnover reached 202 million NTD.
In the first 11 months of 2019, steel billet imports reached 1.1 million tons, up 13% over the same period last year, but the average price decreased by about 10% over the same period last year.
Rebar, commercial steel,scrap steel: Feng Hsin Steel Co., Ltd., one of the major electric furnace steel mills in Taiwan, said it will keep rebar and commodity bar price as well as steel purchase price. The scrap is unchanged this week.
Source: Vinanet
