After entering in May, subject to the impact of the downturn in the black industry chain, the price of imported ore reproduction market crash. According to the business community, the price monitoring data as of May 5th 62%, Australia PB powder port board price at 503.89 yuan / wet ton, compared with the beginning of the 2.68% month, but the biggest decline in 6.97% weeks. And futures contract also appeared on the 4 day limit market, also fell by 5 on the 7.41%.
Business agency iron and Steel Branch He Hangsheng believes that imported ore prices fell, on the one hand, the domestic mainstream port stocks hit a record high of 136 million 60 thousand tons, dragging down the ore price. On the other hand is the money shortage caused by the bearish market sentiment. Lead to market transaction prices fell, steel prices to buy. And due to the off-season effect in May, the increase in steel repair, or caused by weak demand for procurement, it is expected that the short term price of ore is difficult to rise.