Issuing agency: China Association of the National Shipbuilding Industry
Column: Statistics
source: https://www.cansi.org.cn/cms/document/17039.html
In the second half of this year, steel companies in many places introduced production restrictions and production reduction measures. The expectations of production restrictions caused the price of iron ore futures to fall, and led to the weakening of spot prices. As the steel industry continued to reduce production, the price of iron ore continued to plummet. On November 12, the price of directly imported iron ore (62% grade) was reported at 89.19 US dollars/ton, a drop of more than 60% from the highest point of 230.59 US dollars/ton on May 12.
With the continuous decline in iron ore prices, the spot price of steel has also been reduced. On November 12, the average price of 20mm marine steel plates (tax included) in major regions was 6,020 yuan/ton, down 16% from the high point during the year. The average price (tax included) of 6mm marine steel plates in major regions was 6,420 yuan/ton, down 15% from the high point during the year.