鐵礦石價(jià)格反彈至15個(gè)月高點(diǎn)

Steelmaking ingredient iron ore surged further onThursday, rising to its highest level in 15 monthsand securing its position as the best performingmajor commodity of 2016.

周四，煉鋼原料鐵礦石的價(jià)格繼續(xù)飆升，漲至15個(gè)月高位，坐穩(wěn)了2016年表現(xiàn)最佳的主要大宗商品的位子。

Caught between slowing demand from China andrelentless supply growth, iron ore was expected toendure another tough year. Instead, it has risen 60per cent, outpacing gold and oil, due to risingChinese steel prices and supply cuts.

在中國(guó)需求放緩及供應(yīng)持續(xù)增長(zhǎng)的夾擊下，人們?cè)绢A(yù)計(jì)鐵礦石會(huì)經(jīng)歷又一個(gè)艱難的年份，但事實(shí)上它的價(jià)格卻上漲了60%，超過了黃金和石油的漲幅，背后的原因是中國(guó)鋼材價(jià)格上漲和減產(chǎn)。

If sustained, the rebound in prices could add billions of dollars to the bottom line of the world’slargest mining companies. Iron ore is key source of profits for companies such as BHP Billiton,Rio Tinto and Brazil’s Vale.

如果這股趨勢(shì)保持下去，鐵礦石價(jià)格反彈可能會(huì)為全球大型礦企帶來(lái)數(shù)十億美元額外的利潤(rùn)。對(duì)必和必拓(BHPBilliton)、力拓(Rio Tinto)和巴西淡水河谷(Vale)等公司來(lái)說，鐵礦石是關(guān)鍵的利潤(rùn)來(lái)源。

On Thursday, benchmark Australian ore for delivery to China rose $4.40, or 6.8 per cent, to$68.70 a tonne, according to a price assessment by the Steel Index.

鋼鐵指數(shù)公司(The Steel Index)的價(jià)格評(píng)估顯示，對(duì)華即時(shí)交割的基準(zhǔn)澳大利亞鐵礦石周四上漲4.40美元，至每噸68.70美元，漲幅達(dá)到6.8%。

The move came as Chinese steel prices enjoyed another big day of gains, rising nearly 9 percent to their highest level since September 2014.

鐵礦石價(jià)格上漲的同時(shí)，中國(guó)鋼材價(jià)格也經(jīng)歷了又一日的大漲——漲幅近9%——觸及2014年9月以來(lái)最高的價(jià)位。

Increased availability of credit, restocking ahead of the summer construction period andtighter supplies following a string of closures last year are said to be behind the increase insteel Chinese prices.

據(jù)悉，中國(guó)鋼材價(jià)格上漲背后的原因包括：信貸供應(yīng)量增加，建筑商在夏季施工旺季前補(bǔ)充庫(kù)存，以及去年關(guān)閉一批鋼廠后鋼材供應(yīng)趨緊。

At the same time, BHP, Rio and Vale have all trimmed their production guidance, helping totighten a market that has been struggling with a supply glut.

與此同時(shí)，必和必拓、力拓和淡水河谷全都下調(diào)了產(chǎn)量指引，這有助于讓近來(lái)一直疲于應(yīng)付供應(yīng)過剩的市場(chǎng)“瘦身”。

However, most analysts and even some producers believe the rally has gone too far, too fastand are expecting prices to pull back.

但多數(shù)分析師乃至部分生產(chǎn)商都認(rèn)為此次反彈幅度太大、速度太快，他們預(yù)計(jì)價(jià)格將會(huì)回落。

Speaking to reporters on Thursday the head of BHP Billiton in Australia said he did not expectthe rise in prices to hold for more than a few months because more supply is set to hit themarket.

必和必拓澳大利亞礦產(chǎn)業(yè)務(wù)負(fù)責(zé)人邁克•亨利(Mike Henry)周四對(duì)記者們說，他預(yù)計(jì)鐵礦石價(jià)格的漲勢(shì)維持不了幾個(gè)月，因?yàn)楦嗟墓?yīng)將給市場(chǎng)造成沖擊。

“As you see more low-cost volume come to market, here in Australia as well as elsewhere, youwould expect that prices would not be sustained at these high levels,” said Mike Henry, BHP’shead of operations for Australian minerals.

他表示：“當(dāng)你看到更多的低成本鐵礦石進(jìn)入市場(chǎng)——無(wú)論是在澳大利亞還是在別的地方——你就會(huì)預(yù)見到鐵礦石價(jià)格無(wú)法維持在這么高的水平上。”

Equally the 50 per cent rise in Chinese steel prices — steel reinforcement bars that are widelyused in construction are currently trading at $430 a tonne — is also seen as unsustainable.

同樣，中國(guó)鋼材價(jià)格的漲勢(shì)(已上漲了50%)也被認(rèn)為是無(wú)法持續(xù)的。建筑施工中廣泛使用的螺紋鋼的交易價(jià)格目前為每噸430美元。

In its monthly report, the China Iron Ore and Steel Association said the rally could not lastbecause of rising production, which is estimated to have hit 70m tonnes in March, or 834mtonnes on an annualised basis.

中國(guó)鋼鐵工業(yè)協(xié)會(huì)(China Iron and Steel Association)在其月度報(bào)告中表示，由于產(chǎn)量增長(zhǎng)，鋼材價(jià)格的反彈勢(shì)頭無(wú)法持續(xù)。3月份中國(guó)鋼材產(chǎn)量估計(jì)已達(dá)7000萬(wàn)噸，相當(dāng)于年產(chǎn)量8.34億噸。