company news about Demand may be difficult to expand significantly, the iron ore market fluctuates and adjusts

The price index of imported iron ore fluctuated this week, with prices rising and falling. According to the monitoring data of Lange Steel Cloud Business Platform, as of April 8, the 58% Australian powder index was $126/ton, an increase of $3/ton from last week; 61.5% Australian powder index was $136/ton, up from last week 1 US dollar / ton; 62% Australian block index is 179 US dollars / ton, down 4 US dollars / ton from last week.

The sanctions on Russia have sparked supply shortages and higher commodity prices, which Fitch Group's Fitch Programme does not see as having a noticeable impact on the short-term situation for iron ore. However, the agency believes that rising energy prices and the possibility of a recession in the largest economy will accelerate the decline in steel demand, bringing downside risks to iron ore production. According to its forecast, iron ore production in the Asia-Pacific region will increase from the current 2.16 billion tons to 2.27 billion tons in 2025, and then turn to a structural decline, dropping to 2.17 billion tons in 2031.

With the recovery of blast furnace operating rate, the demand for iron ore has increased, and the port inventory has maintained the rhythm of destocking, which has formed support for the price of iron ore. The ore price fluctuated this week. At present, the domestic epidemic situation is still severe, the demand for steel is lower than expected, and the blast furnace operating rate has returned to the level in September last year, and the probability of continuing rapid recovery is not high. The supply of domestic mines has recovered, the supply and demand of iron ore is relatively loose, and the profit of steel mills has narrowed to suppress the price of mines. It is expected that the market will be adjusted in shock next week.