Domestic steel and iron ore indication of lack of support

According to report of xinhua news agency in the latest week, hong kong-listed and domestic iron and Steel ore market has experienced a rare "roller coaster" market, the price is yank to high, the market immediately appear a fear of heights, clinch a deal the contract, price callback. Although there are still quite a overall price rise, but the market is generally accepted that afternoon lack of ongoing support.

According to domestic well-known steel information institutions "my steel" provide the latest market report, the latest week, the domestic spot steel prices composite index closed at 91.22 points, up 14.31% in a week. Concrete, steel futures retreated after harden, is billet prices also rose as the steel spot market price is also big. Earlier in the week, the market trading is very active, but in the futures market under the influence of the callback, hong kong-listed "heights" emotional contagion, clinch a deal with shrinking, steel price a correction. Fortunately, the hong kong-listed overall inventory level is still low, so the adjustment of the next unapt too deviate from the rational track.

The iron ore market is also ups and downs. , according to a new report "nishimoto Shinkansen" in the domestic ore market, hebei region price of iron essence pink rose sharply. Parts are gradually resume production in mines, the supply of domestic ore will be increased later, market procurement wait-and-see atmosphere is aggravating, the trend of the domestic ore will be stability and fall. A fall in the value of imported ore prices rose after platts index jumped to $10.7 a day in the week, hitting $64.2 a tonne, up 20% in a single day. However, after soaring, immediately fell three consecutive trading day. As of March 10, platts index closed at $57.35 a tonne, up $3.85 a week. Despite the recent iron ore market is rare with a little warm, but some international mainstream investment bank agree that ore price rise, the lack of underlying fundamentals of late markets continue to see empty.