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Weekly overview of the raw material market (September 4th to September 10th)

Sep. 22, 2021

Last week, the prices of various varieties in the raw material market performed unevenly. The prices of imported iron ore continued to fall sharply; the prices of coke and coal continued to rise sharply; the prices of ordinary alloys continued to rise, and the prices of special alloys fell as a whole. The price changes of the main varieties are as follows:

The price of imported iron ore on the external disk continues to fall sharply

Last week, the external price of imported iron ore continued to fall sharply, and the overall market transactions were relatively small. Due to production restrictions, some steel mills increased the takeaway volume of Changxie ore while reducing purchases. Due to the high cost of merchants, the price of the port spot price fell relatively small, which was higher than the current external disk price. Last week, iron ore transactions were mainly concentrated in medium and high-grade resources. In addition, due to the high price of coke, steel mills have greatly reduced the use of lump ore. Industry insiders predict that short-term production will still have a greater impact on market expectations, steel mills will have low willingness to replenish stocks, and the iron ore market will still operate mainly due to fluctuations.

Weekly overview of the raw material market (September 4th to September 10th)

Metallurgical coke mainstream market prices rise

Last week, prices in the mainstream domestic metallurgical coke market rose. The 10th round of regional metallurgical coke price increases in East China, North China, Northeast China, and Central South China, which were adjusted to the market, landed, with a cumulative increase of 1,360 yuan/ton. The monthly pricing in Central and South China represents the stable price of coke enterprises. The price of metallurgical coke in Southwestern China is mainly stable. At present, the central environmental protection inspection team has entered Shandong, and the supply of metallurgical coke from coking enterprises has fallen sharply. Some steel mills in southern Jiangsu are highly dependent on the metallurgical coke in Shandong, and the superimposed shipping is blocked. The inventory in the steel mills has dropped sharply. The enthusiasm of going out to find goods is high. However, it is difficult to replenish the warehouse. Drive the tight supply of the entire market. At the same time, the price of coking coal continues to rise, the cost of coking companies continues to increase, and profit recovery is limited. A few coking companies are nearing losses and still have the willingness to increase prices. However, the current metallurgical coke prices are at a high level, and the market fear of heights has intensified, and most coke companies have also increased prices. Be more cautious. Industry insiders predict that the metallurgical coke market will maintain a strong trend in the near future, and the pace of price increases will slow down.

Coking coal prices continue to rise

Last week, domestic coking coal prices continued to rise, and the supply of coking coal resources remained tight. The bidding rules for some coal mines in Shanxi were slightly changed. The bidding time was shortened from 1.5 hours to 0.5 hours. Compared with the previous transaction prices, most of them increased, and a few failed auctions, but some fell. Among them, the price of Linfen fat coal S1.6~1.7 rose 115 yuan/ton to 3370 yuan/ton, and the price of Lvliang coking coal S2.0 fell 130 yuan/ton to 3165 yuan/ton compared with the previous period. The limited production of Shandong coking enterprises has a certain impact on the coking coal market in some regions. A few traders who mainly supply Shandong region are actively shipping, and there is still room for negotiation of the shipment price compared with the previous period. Recently, there has been news about imposing a ceiling on the price of coking coal for individual companies. The intervention of control measures will not be ruled out in the later period, but the tight supply of coking coal will continue. It is expected that the domestic coking coal market price will rise steadily in the short term, and the upward trend will be trending slow.

Ferroalloy market prices have fluctuated

Last week, the market price of ferroalloys went up and down mixed. The market price of ferrosilicon has risen steadily, the price of silicomanganese continues to rise, and the price of high-carbon ferrochrome has slowed down; the market prices of vanadium alloys and ferromolybdenum continue to fall.

The market price of ferrosilicon has risen steadily. The ferrosilicon market is intertwined with longs and shorts. Ferrosilicon manufacturers focus on delivering orders. Traders are not very accepting of high prices. However, the market is still optimistic, and the ferrosilicon market is mainly stable in the short term. The market price of silico-manganese rose by RMB 250/ton to RMB 300/ton, and the production reduction of silico-manganese companies increased. Although the bidding price of steel plants was basically settled, the market retail price continued to rise slightly. , In the short term, the market is still operating steadily and on the strong side. The market price of high-carbon ferrochrome dropped slightly by RMB 50/ton, and the supply of high-carbon ferrochrome is unlikely to rebound. High-carbon ferrochrome manufacturers are not willing to ship at low prices, and downstream demand decreases. In the short term, the market is running steadily.

The domestic vanadium market is operating weakly. The quotations of vanadium from major manufacturers have dropped by 17,000 yuan/ton to 115,000 yuan/ton, and the bulk market quotations have fallen accordingly. Many downstream alloy manufacturers are in the stage of suspending production and reducing production. The raw material vanadium purchases remain cautious and wait-and-see. end. In September, steel mills continued to suspend production for maintenance, the market demand declined, the trade and retail market enquiry and transactions were deserted, the market lacked favorable support, and the short-term operation would be weak. The domestic price of ferromolybdenum fell slightly, merchants began to ship in large quantities, and downstream molybdenum enterprises were not willing to purchase. Confidence in the ferromolybdenum market was further frustrated, the bulk market continued to wait and see, and the quotation center gradually shifted downward. The industry expected that molybdenum prices would gradually stabilize after the fall.

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