Affected by the increase in sea freight, the transportation cost of iron ore has increased by 20-40 yuan/ton compared to last year, providing some support for the bottom of ore prices. We believe that in the second half of the year, there will be a pattern of strong supply and weak demand for iron ore, and the price trend will be high before low.
Today’s Steel Billet: Stable Operation
The fundamental data is still weak, and the overall trading atmosphere is difficult to improve. Manufacturers have a bearish short-term mentality. In addition, the inventory of steel billets in the industry has increased, and terminal demand is limited. It is expected that steel billets will be slightly reduced tomorrow.
Today’s iron ore: significant decline
Iron ore has steadily increased, to some extent hedging against production restrictions. However, currently, iron ore capital still dominates the market and there are no obvious signs of weakening. It is expected that ore prices will operate weakly tomorrow.
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