Iron ore price, page-17283

Further to above, it’s interesting to note that IO stocks at mills (data courtesy of mysteel) are hovering ever so slightly above 4 year lows. Back on Nov 28, they hit a 3 yr low and then refreshed the 3 yr low on Dec 12 at 15.0mt (see below link)

Steel inventories are rapidly declining as per the below data as well. They are currently sitting more than 10% below at any other point over the last 6 months.

So IO at mills are a few tenths of a million tonnes above a 4 yr low and steel inventories sit at a 9 month low (from previous post).

Also SMM reporting tonight that EAF capacity utilisation rates are 20 percentage points lower than this time last year and now at lowest point since Feb. on the contrary, blast furnace capacity utilisation has hit a 4 week high at 78.5% (see below link).

And restocking period going into Chinese New Year isn’t too far away now......

Now for the tariff rollback

Cheers


https://www.mysteel.net/article/500...ll-iron-ore-stocks--usage-both-dip-again.html

https://www.mysteel.net/article/501...ast-furnace-capacity-use-at-4-week-high-.html

IO stocks at mills: (mysteel)

15.1 - oct 31

15.3 - oct 17

15.9 - sep 12

14.9 - aug 29

15.6 - July 18

15.9 - jun 20

17 - jun 6

16.9 - May 23

16 - May 9

16.4 - apr 24

15.9 - apr 11

15.5 - mar 28

15.1 - mar 14

16.4 - feb 28

17.3 - feb 13

19.3 - jan 25

17.2 - Jan 9

16.1 - Dec 26

15.0 - Dec 12

15.9 - Nov 28 (at the time a 3 yr low)





Steel inventories (smm data):

11.2 - Nov 1

13.2 - Oct 11

12.5 - Oct 25

12.9 - Sep 20

13.9 - Sep 6

14.6 - Aug 23

14.5 - Aug 2

13.8 - July 19

13.0 - July 5

12.8 - June 14

12.5 - May 31

13.2 - May 17