Iron ore prices continue to fluctuate at high level

Recently, iron ore prices continue to fluctuate at high level. The main reason for price rising is that the strong demand for domestic and international market.
Since the end of 2020, the domestic steel industry downstream demand released beyond expectations, although 2021 year there have a reduction of demand, the novel coronavirus  epidemic situation in Europe and the United States has gradually eased, the steel demand is growing in international market,
forming a solid support for iron ore prices.
According to the data released by the General Administration of Customs, in April this year, China exported 7.973 million tons of steel, up 26.2% year on year, hitting a new monthly export record in recent years.
From January to April, the export of steel totaled 25.6554 million tons, up 24.5% year on year.

As China enters the traditional construction season, steel demand will continue to be strong.
Due to the impact of climate and international relations, Brazil and Australia iron ore production and shipment are restricted to a certain extent, and the overall market supply situation remains stable and tight.
In terms of iron ore supply, the overall market pattern has not changed significantly in the near future.

Recently, the continued weakness of the US dollar and the spread of global inflation have led to a collective rise in commodity prices. Gold and silver prices have maintained a rising trend, and Brent crude oil prices have also been on the rise.
Industry analysis pointed out that the main reason for the price rise lies in the strong support of demand, if the future of the demand end without significant changes, iron ore prices are difficult to appear a sharp correction.
Recently under the joint action of environmental protection and tight resources, steel prices have soared; But steel price rises too fast will lead to certain adjustment, it will keep running at a high level later.

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