Latest Update in the China Finished Steel Market

DCE iron ore was was shocked and keep downward all the day.The main contract closed at 737.5,,increased of 4.31%. Traders are generally motivated to ship, Speculative demand increases.

The General Administration of Customs announced on August 7 that in the first seven months of this year, the total value of China's foreign trade imports and exports was 23.6 trillion yuan, a year-on-year increase of 10.4%.

DCE iron ore was was shocked and keep downward all the day.The main contract closed at 780.5,increased of 1.30%. Traders are generally motivated to ship, Speculative demand increases.

SHANGHAI, Aug 5 (SMM) - After the expectations for resumption of production of steel mills were fully digested by the market, the cautious macro sentiment and poor fundamentals dominated the price movement of iron ore.

In the first half of 2022, the steel prices rose first and then fell, but the overall steel industry was generally stable.

DCE iron ore was was shocked and keep downward all the day.The main contract closed at 756.5,decreased of 4.78%. Traders are generally motivated to ship, Speculative demand increases.

However, the production cut wills weakened with the estimated restoring profits following the fall in the prices of chrome ore and coke. Ferrochrome plants, especially those in north China, maintained high operating rates with cost advantage.

The total inventory of HRC across social warehouses and steel makers in China stood at 3.92 million mt as of August 4, down 61,700 mt or 1.55% on the week, a decrease of 2.21% on the year.