** It is expected that in April, weak steel market demand will recover, steel mill production may rebound to a certain extent, and raw material and steel prices will fluctuate and operate weakly. Iron ore prices may continue to fluctuate and operate weakly, but it is unlikely that iron ore prices will return to the normal range. ** This is the information that the reporter recently learned from the latest report released by the Steel Logistics Professional Committee of China IoT.

Data shows that the PMI of the steel industry in March 2024 was 44.2%, a month-on-month decrease of 1.8 percentage points, indicating that the steel industry continues to operate weakly. Changes in sub-indices show that after the Spring Festival holiday, market demand in the steel industry has recovered slowly, and the production side has declined, driving a decline in raw material procurement, raw material prices have dropped overall, and steel prices have continued to decline.

需求方面，钢铁市场需求恢复缓慢。In March, the new orders index was 44.4%. Although it increased by 3 percentage points from the previous month, it was still at a low level below 45%. 生产方面，钢厂生产意愿下降，生产端继续下滑。In March, the production index was 37.7%, a month-on-month decrease of 7.5 percentage points. 价格方面，原材料价格整体下降，钢厂成本压力再度缓解。 分品类来看，铁矿石由于采购量下滑，市场成交一般，港口库存进一步积累，同时国外矿山逐步增产，供给端稳中有升，而国内市场需求下行压力较大，铁矿石价格承压运行。

报告预计，4月份钢材市场需求或将弱势恢复，但上升空间估计有限。At the same time, steel production may rebound to a certain extent. 需要注意的是，当前冬储库存依旧较高，如果需求不能充分释放的话，去库速度缓慢对于供给端会造成较大压力。此外，铁矿石价格或将继续偏弱运行。

This article was originally published in the first page of China Mining News on April 2

original title:"Iron ore prices may continue to fluctuate and operate weakly"