The logic has changed, and iron ore will still fall?

Gold Ten Futures, September 19th, the recent demand for steel for building materials has entered the traditional peak consumption season, the marginal improvement of steel demand, the negative feedback of the industrial chain caused by insufficient domestic demand and the decline in exports, and the weakening of the old standard rebar inventory pressure. Steel mills have sharply reduced production and weak demand to achieve a dynamic balance. Steel inventory pressure is low. At the same time, the downward pressure after the sharp adjustment of steel prices has been released to a certain extent. The rebound in refined material prices has driven iron ore prices upward. < br > However, domestic real estate has not yet stabilized, infrastructure and manufacturing demand hedging effect is not good, and black prices have shown a downward spiral as a whole. The focus of iron ore futures prices continues to shift downward under the pattern of high supply from foreign mines, falling domestic demand and inventory growth. At present, the supply and demand of iron ore remains loose, the demand of steel mills is low, the supply of foreign mines remains high, the inventory of ore ports continues to accumulate, and the price is under pressure. In the medium term, the supply and demand relationship of iron ore will be transformed from the current stage balance to oversupply, and there is still room for iron ore prices to fall.