One-week review of the steel raw materials market (February 17-February 23)

Haihao Group has been engaged in the field of pipeline systems for more than 40 years. Our company pays close attention to the changes in the steel raw material market and shares it with customers. This article will introduce to you the changes in the raw material market last week.

In the domestic raw material market, the prices of most varieties show a downward trend. Iron ore prices have fallen sharply, while coke has implemented the third round of price reductions. Some steel companies plan to propose a fourth round of price reduction requirements. The coking coal market is mainly stable, while the prices of most types of ferroalloys have shown a steady to moderate downward trend. The following is a summary of price changes for each major variety:

Haihao Group

The price of imported iron ore fell sharply. One of the main reasons is that the finished steel market has not yet opened, and on the other hand, the rapid accumulation of iron ore stocks at domestic ports during the Spring Festival holiday. At present, although the blast furnace operating rate of steel companies has rebounded, it is relatively low. Therefore, steel companies have not yet fully resumed procurement, and the external trading volume of iron ore is also at a relatively low level. After the spot price at the port fell, merchants suffered more losses from the previously high-priced resources, so they were unwilling to ship goods at low prices. It is expected that in the future, as some steel companies with low inventories gradually increase purchases, the room for falling iron ore prices will narrow.

Ferroalloy prices were stable and fell. Except for the increase in ferromolybdenum prices, other alloy prices were stable and fell. The price of ferrosilicon fell slightly. A few steel companies in the south announced a new round of ferrosilicon purchase prices, which dropped by 80 yuan/ton to 268 yuan/ton from January, lower than market expectations. The market price of ferrosilicon futures increased slightly, but because the bidding prices of steel companies were lower than expected, some manufacturers lowered their quotations, resulting in a pessimistic market sentiment. It is expected that the ferrosilicon market will maintain a stable but weak trend in the future.

Stainless steel pipe fittings

The price of high-carbon ferrochrome is generally stable, but the price of chrome ore in some areas has increased slightly. At present, high-carbon ferrochrome companies in Inner Mongolia are on the verge of profit and loss. After the Spring Festival holiday, the inventory accumulation of these companies is not obvious. Therefore, it is expected that the high-carbon ferrochrome market will maintain a steady to strong trend in the future.

The price of vanadium-based alloys fell partially. The price of vanadium-based alloys fell partially, mainly due to the lower bidding prices of some steel companies. The current overall market sentiment is weak, and it is expected that the vanadium alloy market will maintain a stable but weak operating trend in the future. In terms of molybdenum alloys, prices are rising and market sentiment is improving, and it is expected to be stable to strong in the future.