According to Beite futures, market news said that in order to ensure the use of domestic ore in India, the ban on iron ore export may be re started. The finished products went to the warehouse for 7 weeks in a row, the spot price of iron ore rose, and the spot transaction turned better; near the end of the month, the 01 contract moved to the warehouse for the month, and the market fluctuation increased.
According to the futures daily, the main driving forces behind the current round of iron ore rebound are from two aspects: first, the over expected firmness of finished product consumption in November has significantly eased the pressure of high inventory in the early stage, and the continuous rise of finished product price has formed positive feedback on the iron ore price at the raw material end. Second, the market opened the basis repair market. With the continuous improvement of the profit level of the steel mills, their willingness to actively replenish the iron ore warehouse gradually increased, which promoted the iron ore spot price to strengthen. Driven by the high base difference, the disk price accelerated upward and moved closer to the spot Founder medium term futures iron ore researcher Liang Haikuan said.
Australian iron ore exports reached a record high of a $10.9 billion in October, accounting for 36% of Australias total exports in October, according to data released by the Australian Bureau of Statistics (ABS) on November 24. In October, Australias iron ore exports increased by US $833 million, or 7%, from a year earlier. In the same month, Australias total export value increased by 6% year-on-year to US $30.5 billion.
According to the financial times, this year will be the first time since 2013 that the average annual price of iron ore has exceeded $100 per ton.
Iron ore is the biggest commodity this year. According to S & Ps global Proctor data, iron ore prices have risen by about 40% this year, 16 percentage points more than the 24% rise in gold, the second largest.
At the same time, this year A-share iron ore concept plate is also strong. Hongda mining is mainly engaged in iron ore beneficiation and iron concentrate sales. Its iron ore resource reserves are the second in China. Its share price has increased by 260% since this year. Since the beginning of the year, Tibet mining industry, which is the subject of chromium ore scarcity, has risen by more than 60%. The stock price of Jinling mining, which is engaged in iron ore mining, also kept fluctuating upward.
Hongda mining week K
At present, the spot price of iron ore is at the high level since January 2014. Considering that there may be some uncertainty in the economic recovery under the background that the global epidemic situation is still relatively serious, in order to cope with this possible uncertainty, the current relatively high price of iron ore also provides a certain margin of safety for enterprises to hedge and avoid risks.