Weekly review of raw material market (January 17th-January 23rd)

Last week, the domestic raw material market fluctuated slightly, [https://www.steelfsd.com/] and steel companies began to restock some varieties before the Spring Festival. However, with profits at a relatively low level, steel companies had limited demand for restocking. The price of iron ore fluctuated and fell; the coke market was mainly stable; the price of coking coal was stable with an increase; the prices of various ferroalloy varieties increased or decreased. During this period, the price changes of each major variety were as follows:

Imported iron ore prices fluctuate and fall [https://www.steelfsd.com/]

Last week, the price of imported iron ore fluctuated and fell. Iron ore prices fell rapidly in the first half of the week, and traders reduced shipments due to losses; low-stock steel companies began to replenish their stocks in small quantities, and iron ore prices stopped falling and rebounded in the second half of the week. Iron ore inventories at major domestic ports continue to rise, and some steel companies still have certain replenishment plans in the near future, which will provide certain support for the iron ore market. Iron ore prices are expected to rise slightly in the near future.

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The domestic metallurgical coke market is generally stable

The domestic metallurgical coke market is generally stable. Both the supply and demand of metallurgical coke decreased, the capacity utilization rate of 200 independent coke enterprises dropped by 1.05%, and the average weekly output of molten iron decreased by 0.66 million tons. , has not yet been implemented, and the profits of Jiaoji companies are under pressure. Some representative coke companies in the main production areas have a strong willingness to increase prices, and this round of metallurgical coke price increases is expected to materialize. Domestic metallurgical coke prices are expected to rise steadily in the near future.

Domestic coking coal prices remain stable and rising

Last week, domestic coking coal prices rose steadily, and online bidding prices were mixed, with a comprehensive transaction rate of 85.65%. At present, most coke companies are losing money, and coke companies are becoming more cautious in purchasing. In addition, the early replenishment of inventory has basically been completed, and subsequent shipments will mainly be based on orders. A few coal mines have shown signs of slowing down shipments, and inventories have accumulated slightly; some coal mine orders have been scheduled until before the Spring Festival, and orders have been mainly executed in the near future. The coking coal market is expected to be stable in the near future, with online bidding prices rising and falling.

The prices of various types of ferroalloys have gone up and down.

Last week, the prices of various types of ferroalloys were mixed. The price of ferrosilicon fell first and then rose, with an overall decline. Production in the main production areas is relatively stable, with little change in daily output. As the Spring Festival approaches, the actual downstream demand is gradually stabilizing. Although there is demand for winter storage, the intensity is limited. It is expected that the ferrosilicon market will be stable and slightly adjusted in the near future. The price of raw material manganese ore is stable but declining. The recent investment sentiment in the silicon-manganese spot market is still weak. On the one hand, downstream steel companies are nearing the end of their pre-holiday stockings, and the pace of procurement has slowed down. On the other hand, manufacturers have tight spot resources and few active quotations. Most of them focus on delivering early long-term contract orders. The overall market is cautious and wait-and-see. It is expected that the silicon-manganese market will fluctuate within a narrow range in the near future.

The raw material chromium ore market is still operating strongly. Taken together, the demand for winter storage purchases by downstream steel companies before the Spring Festival continues to be released, and the cost of superimposed raw materials continues to rise. It is expected that the high-carbon ferrochromium market will be relatively volatile in the near future.

The price of raw material 98 pieces of vanadium is stable, [https://www.steelfsd.com/] and the market is reluctant to sell it at low prices. The bidding volume of vanadium-nitrogen alloy steel companies dropped slightly from the previous week, and the overall procurement pace slowed down, with most of the procurement mainly focusing on replenishing stocks for rigid needs. Supported by the cost of raw materials, merchants who hold goods have firm quotations and are not willing to ship goods at low prices. However, the opening bid prices of downstream steel companies purchasing vanadium-based alloys have not fluctuated much. Downstream procurement is cautious and wait-and-see. The vanadium alloy market is expected to be stable with slight fluctuations in the near future. In terms of molybdenum alloys, the price of 60 ferromolybdenum first rose and then fell. The price of raw material molybdenum concentrate was strong. The price of ferromolybdenum was supported, and the willingness of cargo holders to make concessions and shipments was low. Taking into account the logistics shutdown before the Spring Festival and other situations, steel companies' stocking demand is still continuing to be released. Ferromolybdenum prices are expected to rise steadily and slightly in the near future.

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