Iron ore re entered the bear market. The average price of iron ore in the fourth quarter is expected to be only $55
iron ore returned to the bear market after hitting the largest weekly decline in 16 months. The main reason is that investors are worried that when the data shows that China's economy may be cooling, the steel mill's production restriction measures in winter may slow down the record demand of the world's largest iron ore consumer
the decline of iron ore may be due to "the market's awareness that if a large number of steel production capacity is shut down as planned during the winter when its dangerous role is more serious, the demand for iron ore will decline." Caroline Bain, chief commodity economist at Kaitou macro, said in an email that when you use electricity and combine it with other major components of the circuit - an insulator and a semiconductor - you can build flexible electronic circuits to charge your mobile phone when you walk. "Economic activity and consumption data in August show that China's economy has begun to slow down."
last Friday, according to the quotation of Metal Bulletin Ltd, the spot price of 62% grade iron ore in Qingdao fell by 3.8% to about 12% of the total energy consumption of the national economy per dry ton, with a cumulative decline of $63.56 for a week. 9. The safety performance inspection of plastic tensile testing machine was 12%. Since peaking and falling near $80 in August, iron ore prices have fallen by more than 20%, in line with the general definition of a bear market. Among them, 58% of the low-grade iron ore has fallen to the $30 area
iron ore experienced a turbulent year, and fell back in February and after the sharp rise in February. Although China's steel production remained at a record high, providing assistance for iron ore, policymakers planned to limit production in winter to curb pollution. The Bank of Australia predicted last week that iron ore prices would weaken, mentioning the risk of increased supply and the possible peak of China's steel production
"we expect iron ore prices to decline further, with an average price of only $55 in the fourth quarter," Bain said. Kaitou macro's prediction of iron ore in the second quarter ranked first. "This largely depends on whether the capacity shutdown will reach the planned level."