Minério de ferro evapora na bolsa: Demanda da China e oferta elevada derruba preços do minério de ferro e impacta o mercado de mineração no mundo

Iron Ore Evaporates on the Stock Market: China’s Demand and High Supply Drive Down Iron Ore Prices and Impact the Global Mining Market

Written by Flavia Marinho

Published on 11/08/2024 at 20:16

Mercado de mineração em alerta: Alta demanda da China, o maior consumidor global de minério de ferro, derruba preços do minério de ferro

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Mining Market on Alert: High Demand from China, the World’s Largest Consumer of Iron Ore, Drives Down Iron Ore Prices

According to InfoMoney, the mining market was impacted again in August. Iron ore futures prices fell for the second consecutive day, pressured by weak demand from China, the world’s largest consumer. Additionally, high supply added more weight to the scenario, causing a significant drop in prices.

These concerns do not come out of nowhere. The January contract for the most traded iron ore on the Dalian Commodity Exchange (DCE) closed the day down 2.41%, at 749 yuan (US$ 104.32) per ton. This is the lowest value since August 2, reinforcing uncertainties about the health of the Chinese steel market. Meanwhile, on the Singapore Exchange, the September contract fell 1.75%, reaching US$ 101.05 per ton, which also marks the lowest value since early August.

Steel Market Slowing Down and Doubts About China’s Steel Export Capacity Worsen the Scenario for Iron Ore

However, concerns in mining do not stop there. According to analysts at First Futures, a significant increase in prices is unlikely while the steel market continues to slow down. Furthermore, doubts about China’s steel export capacity to maintain strong momentum in the second half further worsen the scenario for iron ore.

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Additionally, China’s iron ore imports rose 5.3% in July compared to the previous month, reaching the highest level in six months. This occurred because mining companies rushed to meet quarterly shipping targets, and steel mills’ margins improved. However, China’s surge in steel exports may decline in the coming months, raising concerns about ongoing demand for iron ore in the mining sector.

Mining: While mining companies rush to meet targets, the market watches with caution. Uncertainty regarding steel exports and the cut in Chinese steel production are critical factors that will determine the future direction of the market. A steel producer based in eastern China, who preferred not to be identified, highlighted that they are closely monitoring these changes.

Iron Ore Evaporates on the Stock Market: China’s Demand and High Supply Drive Down Iron Ore Prices and Impact the Global Mining Market

Mining Market on Alert: High Demand from China, the World’s Largest Consumer of Iron Ore, Drives Down Iron Ore Prices

Steel Market Slowing Down and Doubts About China’s Steel Export Capacity Worsen the Scenario for Iron Ore

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Iron Ore Evaporates on the Stock Market: China’s Demand and High Supply Drive Down Iron Ore Prices and Impact the Global Mining Market

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