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Oct.28.2020 1USD=6.6989RMB
  SteelHome >>Raw Material>>Market Info>>Market Analysis
 
BRIEFING (October 16, 2020): Iron Ore and Semis

http://en.steelhome.cn [SteelHome] 2020-10-16 16:10:05

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1. Iron Ore Market

Seaborn prices for iron ore decreased in China this week by and large. The procurement interested dropped in recent days. In order to improve cash flows, most traders were active in sales. Some with high costs awaited further market developments, being inactive in low-prices selling.

According to SteelHome survey, China iron ore stockpiles kept rising this week. Under tepid demand for iron ore, however, it is unlikely to observe the further price drop in the short run.

T1: China Iron Ore Price by Product

SteelHome Index (USD/t)

Seaborne Price (USD/t)

Qingdao Port (yuan/t)

Tangshan (yuan/t)

62%-Fe Imported Iron Ore

61.5%-Fe PB fines

65%-Fe IOCJ

61.5%-Fe PB fines

56.5%-Fe Super Special fines

66%-Fe Concentrate fines

Oct. 15

119.47

118

990

890

815

1030

Oct. 13

123.3

122

1005

905

830

1020

Oct. 10

124.57

123.5

1005

905

830

1020

Oct. 15 vs Oct. 13

-3.83

-4

-15

-15

-15

10

Oct. 15 vs Oct. 10

-5.1

-5.5

-15

-15

-15

10

Source: SteelHome Database

*Need More Data? Just Click SteelHome Database (Microsoft's Windows Version)

1.1 Highlight

(a) according to SteelHome survey, iron ore inventory at 46 main Chinese ports was 124.5 million tonnes as of October 15, 2020, up 900,000 tonnes from October 9.

Of the stocks, about 57.5 million tonnes belong to traders. The stocks comprise 25.6 million tonnes of lump, 11.05 million tonnes of pellet and 12.1 million tonnes of concentrate fines. Daily shipment was 3.09 million tonnes, up 80,000 tonnes from the previous week.

Meanwhile, daily iron ore arrivals at five largest Northern ports (Qingdao, Rizhao, Tianjin, Caofeidian and Jingtang) reached 1.69 million tons this week, down 80,000 tons from last week.

(b) Rio Tinto's 3Q2020 Iron Ore Production Down 1% YoY to 86.4Mlnt in Pilbara, WA

T3: Summary in Q3 2020

Q3 2020

vs Q3 2019

vs Q2 2020

9 MTHS 2020

vs 9 MTHS 2019

Pilbara iron ore shipments (100% basis)

Mt

82.1

-5%

-5%

241.7

0%

Pilbara iron ore production (100% basis)

Mt

86.4

-1%

4%

247.4

2%

IOC iron ore pellets and concentrate production

Mt

2.3

-21%

-15%

7.7

-4%

T4: Production Guidance

 

2019 Actuals

2020 Sept YTD

2020

Pilbara iron ore (shipments, 100% basis) (Mt)

327

242

324 to 334

IOC iron ore pellets and concentrate (Mt)

10.5

7.7

10.5 to 12.0

1.2 Trading Tips

Traders are suggested to properly sell iron ore. Mills are suggested to keep the in-plant inventory at a normal consumption level.

2. Semis Market

Prices of semis dropped after previous rises in China this week. With the active production in steel rolling mill plants, the overall demand for semis products increased, bringing the stockpiles to keep dropping. And the supply was tight on the market.

According to SteelHome survey, steel consumers were inactive in high-priced steel transactions amid slack steel sales lately. Therefore, some traders have lowered the price to make the transactions completed.

SteelHome considers that prices of semis may observe rangebound movements in the short run.

T5: Prices of Q235 in Main Chinas Market

in yuan/t

Tangshan

Jiangyin Port

Zibo

Linfen

Handan

Shenyang

Oct. 15

3390

3470

3460

3420

3590

3390

Oct. 13

3420

3490

3470

3450

3610

3420

Oct. 10

3390

3480

3440

3420

3600

3390

Oct. 15 vs Oct. 13

-30

-20

-10

-30

-20

-30

Oct. 15 vs Oct. 10

-

-10

20

-

-10

-

Source: SteelHome

2.1 Highlight

Semis stocked at 16 large warehouses in Tangshan were 461,700 tonnes on October 15, 2020, down around 45,000 tonnes from October 9, 2020.

2.2 Trading Tips

Steel rolling mill plants are suggested to purchase semis products mainly as their normal consumption levels amid escalating trade uncertainties.


(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282)
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