Industry News

Steel mills iron ore inventories continue to fall in 2020 will still be supply shortage

China's new crown outbreak is expected to cause a temporary oversupply in the iron ore market, but there will still be a supply gap throughout 2020, morgan stanley, a leading investment bank, said today. 'We expect demand to recover in mid-March, ' the investment bank said. The outbreak is expected to have a 1 per cent impact on China's steel production in 2020 and demand for 80m tonnes in February and March, pushing spot iron ore prices lower.

It is understood that The total inventory of imported sintered powder of 64 steel mills in this period was 16.3426 million tons, a decrease of 1.3279 million tons from last week, and the inventory of steel mills continued to decline for two consecutive weeks after the Spring Festival; fast consumption. Subregional view: this Hebei, southern inventory decline is obvious, down about 700,000 tons, 400,000 tons, along the river region slightly decreased by 200,000 tons, Shanxi, Shandong region basically stable; At present, mainly to consumption of inventory, no large-scale replenishment plan, other regional steel mills temporarily maintain normal consumption, daily consumption, this week's import of sintered powder ore daily consumption of 5268 million tons, after two consecutive declines, has been reduced to the lowest level in previous years, mainly affected by the outbreak, Hebei, Shandong, Shanxi steel mills actively reduce production, daily consumption significantly reduced Overall: Inventory and daily consumption decreased significantly this week, with the ratio of imported powder ore inventory falling from 31.53 to 31.02.

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