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China iron ore spot trading platform turnover of more than 600 million yuan a week
On May 14th, after the first day of the opening of the market, the spot trading platform of China's iron ore tends to be deserted. As of today, only 6 transactions have been completed, with a total volume of approximately 689,000 tons and a total turnover of 600 million yuan. The analysis said that the inherent obstacles in the early stages of development and the market downturn caused the platform to be cold. According to statistics, the iron ore spot trading platform has been running as of today (May 8th - May 14th, 2012) with a total of 80 reports, with a total declared quantity of 7,591,792 tons, with a total turnover of 6 and a total turnover of RMB 609,009,021 ( US$96,606,761). This week's declaration form is mainly concentrated in the international in-transit A ​​(referring to the spot where the mine is not shipped or in transit), the international bonded area B (refers to the iron ore that has not been declared in the bonded port of the Chinese port) and the spot D of the port (referred to has been declared in the port) There are three types of stocks in stock, including 14 varieties including Vale 63.5% fine ore and PB fine ore. The origins are Australia, Brazil and India. The six transactions were Brazil's Vale 63.5% powder ore price of RMB 887 yuan / ton, the number of 172,800 tons. Australia's 54% powder ore is 641 yuan / ton, the number is 57,000 tons. Australia's PB powder mine is 911 yuan / ton, the number of 165,000 tons. Brazil's Vale 65% powder mine RMB 1080 yuan / ton, the number of 20,000 tons, Australia 62% powder ore RMB 876 yuan / ton, the number of 110,000 tons. Brazil's Vale 63.5% powder mine is 851 yuan / ton, the number of 165,000 tons. This week's market focus is on the 63.5% fines in Vale, Brazil. On May 10, there were selling renminbi 919 yuan / ton, the number of 172,800 tons, followed by the purchase price back to 882 yuan / ton, after the buyer and the seller made multiple offers, and finally sold at 887 yuan / ton. Before the closing on May 14th, 62% of Australia's 62% fine ore in the international route A was RMB 876/ton, and the number of transactions was 110,000 tons. This is in stark contrast to the intensive transaction in the morning of the first day, which formed a trading volume of 242,000 tons. Even two days ago, there were "zero transactions" in the past two days. According to the analysis, the inherent trade channel stickiness between enterprises, the unaccustomedness of the initial stage of platform operation, the need to pay transaction fees for platform transactions, and the poor price negotiation of trading platforms have become obstacles that are difficult to overcome at the beginning of the platform. On the other hand, the market downturn has also caused light trading on the spot trading platform. According to the Lange Steel survey, the current iron ore market is still a stable bearer for the late-term price, and the bears will reach 45% next week, and 50% believe that the latter will remain stable. The main reason is the recent sluggish performance of the domestic steel market, coupled with the certain financial pressure on steel mills, and low procurement enthusiasm. Under this circumstance, it will also encourage enterprises to take a wait-and-see attitude towards the platform. Angang has expressed its willingness to put 30% of the trade volume on the platform, but only if the platform is developed.