Baltic Dry Index (BDI) fell for 12 consecutive trading days Domestic iron ore prices are rising against the trend Known as the “barometerâ€, the Baltic Dry Index (BDI) has continuously released the “iron ore market downturn†signal, which is a huge contrast with the domestic price of the mine. The "Economic Information Daily" has been informed that the BDI index has fallen more than 20% since the beginning of this year due to the sluggish demand for large sea-going vessels transported by iron ore. According to the latest data, as of July 25, the BDI index closed at 1317 points, falling for 12 consecutive days, down 8.4% from 1437 points on July 11. The data show that the iron ore price and the BDI index are basically in the same trend of “same rise and fallâ€. In the period of the surge in iron ore imports in the first half of 2008, not only did the iron ore import price push to a record high of $200/ton, but the BDI index also broke through the 11,000-point high. The current situation of BDI's continuous decline undoubtedly means that the global iron ore market as a whole is in a downturn. However, it is worth noting that domestic iron ore prices have risen “contrarian†in such an environment. According to the latest data from the United Metals Network, after several weeks of price increases, the current market price is at a high level, and the mainstream price of the 63.5-print external disk on the 26th is around 182-184 US dollars per dry ton. "In the case of a sluggish global iron ore market, domestic iron ore prices have remained at a high level. 'One low and one high' just proves the monopoly of the three major mines in iron ore and its control over prices." Xu Guangjian, an analyst at Union Metals Ore Channel, told the Economic Information Daily. As iron ore turns to flexible pricing such as quarterly and monthly, the control of iron ore is even more alarming. Even in the case of a decline in sea freight rates and a sluggish shipping market, it is still possible to “turn the tide†on the price of iron ore that should have fallen by various means. A trader admits that foreign miners, including the three major mines, have begun to tighten supply and use frequent ore tenders to “crowd up†the price of the mine. At present, the mainstream high-grade resources dominated by the three major mines in the market are very tight, and the mines offer high prices and relatively firm prices. "At present, the demand for iron ore is in the off-season, coupled with the tightening of credit policies and the pressure on raw material costs, steel companies are generally facing financial constraints, and the purchase of raw materials such as iron ore is also suppressed. More is to choose and wait." A deputy chief of a large steel mill in the region told the Economic Information Daily that the current steel mills have maintained low inventory for about 20 days, with a small amount of replenishment stocks. The reporter learned that the iron ore stocks in China's major ports have reached record highs, and high iron ore stocks have already inhibited China's iron ore import demand. Because of this, the freight rate of the Capesize market fell again. Last Thursday, the freight rates of Western Australia and Brazil Tubarão to Qingdao MTR iron ore routes were US$8.03/ton and US$20.13/ton, respectively, down 4.86% and 3.22% from the end of the previous period. Xu Xiangchun, director of the information network of my steel network, told the reporter of the Economic Information Daily that it is currently in the off-season of the steel industry, but from the perspective of upstream raw materials, the monopoly advantages of the three major mines still exist, and the dependence of China's steel industry on imported mines remains. High, and later, as steel mills begin to purchase ore, imports of iron ore will also increase, and the BDI index will increase accordingly. For the later trend, Bao Zhangjing, chief researcher of China Shipbuilding Research Institute (47.78, 0.00, 0.00 % ), told the Economic Information Daily that there are seasonal factors in the BDI losing streak, but mainly the imbalance between supply and demand. The amount of new ship launch is too large. Since the beginning of the year, the dry bulk market has been bad. The current supply and demand relationship cannot support the BDI price to go up. He believes that in the medium term, BDI will still be low, but it does not rule out a short-term rebound. Now the new ship has more orders, and hundreds of millions of dry bulk cargo will be put into the market in the next few years. go with. Nucleic Acid Contamination And RNase Eraser Nucleic Acid Contamination And Rnase Eraser,Reagents Rnase Degradation,Eliminate Nucleic Acid Contamination,Effective Laboratory Environment Guangzhou Baybio Bio-tech Co., Ltd , https://www.gzbaybio.com
Abstract The Baltic Dry Index (BDI) fell for 12 consecutive trading days. The domestic iron ore price went against the trend. The Baltic Dry Index (BDI), known as the “barometerâ€...