Ferrous Metal
Iron ore: The import ore market is closed and the price of the ore is firm.
September iron ore peak season demand did not reach expectations, the “peak season is not prosperous” situation. The price of iron ore in Tianjin port has fallen by about 14% in the past week, down 7.4% per cent in Thursday to $63/ton, the highest level of this year, compared with about $93.6/ton at the end of February, exceeding 30%.
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The price of iron ore could fall to $53/ton next year as demand in China slows, Citigroup analyst said in Friday. According to Citi’s forecasts, iron ore prices will fall by about 25% per cent from $71.96 a tonne next year.
September 22, 2017, the domestic iron ore 62% grade dry base iron concentrates the tax price is 608.83 yuan/ton, the chain drops 0.68 yuan per ton, the decrease is 0.11%, the higher than the imported iron ore is 50.23 yuan/ton, the increase is 8.99%, the average price of the month is 617.61 yuan/ton, Higher than the import of iron ore 9.20 yuan/ton, an increase of 1.51%.
September 22, 2017, the domestic iron ore 65% grade dry base iron concentrates the tax price is 678.90 yuan/ton, the chain drops 0.78 yuan per ton, the decrease is 0.11%; the average price of the month is 688.64 yuan/ton.
The market price of chrome ore has stabilized steadily.
Metals
Gold and silver continued to be under pressure in the short term and the rally ended. Spot gold rose 0.4% per cent to $1295.6 an ounce, hitting a low of around 1,287. $61. Gold fell 1.8% this week, with a second consecutive weekly decline. This week Shanghai 99.95% gauge gold has fallen to 276.2 yuan/gram since Monday 278.78 yuan/gram.
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The dollar’s soft support of copper prices rebounded, spot copper prices rebounded at the beginning of the week, China’s ratings have been downgraded, worries about slowing demand in China have curbed prices, and the Fed this week, the results of hawkish, copper pressure to start a callback, this week, copper prices first rose and fell.
Spot copper prices fell overall this week. The Yangtze River spot copper have price of 50476 yuan/ton, daily decline of 142 yuan/ton, week line fell 1.41%. A week before the average price of 51014 yuan/ton, the chain fell 538 yuan/ton, the decline of about 1.05%.
This week the spot aluminum price trend to maintain first rise and fall, CCMN data show that the Yangtze River spot AOO Aluminum ingot weekly average price of 16324 yuan per ton, have up 10 yuan/ton, the previous week the Yangtze spot aluminum per ton average price 16160 yuan, the chain Rose 164 yuan/ton, the chain rose about 1%.
Cobalt City continued to hold steady future, cobalt city since entering 2017 since the start of the rally, May experienced a wave of callbacks, June opened the second wave of the rally, September prices at the beginning of a 6-year high of 433000 yuan/ton, but hit the top after the market into a callback. The main domestic production enterprises at present a firm price of 440000 yuan/ton.
Other small metal zinc prices show a first rise after the market, zinc prices show the first rise after falling market. Lead prices fell, tin prices fell, nickel prices fell, molybdenum concentrate on the spot is not much, supply tightening, low price deal difficult.
Coal
Since June 2017, the Coke rally has started again, from the Coke Index, has risen more than 80%, at present, Coke Spot has experienced seven rounds of price adjustment, cumulative increase of 460 yuan/ton but as a result of coke continuous rise, the driving factors of digestion, future continued on the impulse can be limited, short-term adjustment of risk or increase, is expected to present a high oscillation pattern. Continue to pay attention to steel mills profit and Coke stock index, if the late inventory accumulation, or indicate the supply of tight situation mitigation, coke or ushered in adjustments.
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This week, Fushun, Liaoyang, Shenyang, Qitaihe, Liupanshui two-grade metallurgical coke prices rose 100 yuan, other areas of stability.
From August 23 to September 20, power coal futures prices have accumulated 67 yuan/ton, up 11.53%.
For the recent rise in coal prices, the Chinese Coal Industry Association Consulting Center engineer successfully said that, from the overall level, the coal supply is still tight, coupled with the dealers to store goods, the use of information asymmetry increase, is expected to be higher coal prices in the near future.
In the short term, the power coal futures market will continue to interpret the repair of water, but if the September power consumption and macroeconomic data continue to weaken, may dampen investor confidence in the overall demand for power coal, then the power coal futures face may be the first callback.
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