This week Chinese flat product prices gained momentum amid rise in domestic prices however re-bar prices fell marginally.Coal prices started to rebound this week on prospect of active buying from Chinese steel mills. Spot iron ore prices in China moved up sharply on weekly basis.
Chinese spot iron ore prices surge 14% W-o-W – Benchmark index in China for Fe 62% fines prices moved up sharply this week and closed at USD 65/MT, CFR China by weekend.Iron ore stock at Chinese major ports stood at 140 MnT. Lump premium moved up to USD 0.2/DMT, CFR China. Pellet premium declined to USD 28/DMT, CFR China.
Coking Coal Price Rises on Positive Prospect of Chinese buying – Coking Coal prices have started to rebound on positive prospect about active buying from Chinese steel mills.The latest offer for the Premium HCC is assessed at around USD 147/MT FoB Australia, higher by USD 5.5/MT against last week.
Chinese Billet export offers Rise further – Chinese billet export offers remain high. This week offers are assessed at USD 430-435/MT FoB Chinese main port, up by USD 5/MT ,
W-o-W.
China’s flat steel export offers rises over domestic gains- Chinese HRC export offers witnessed hike in the third consecutive week by USD 10/MT,W-o-W basis on strengthening domestic market.However this has led to drastic fall in buying inquiries from overseas buyers.HRC export offers are prevailing in the range of USD 450-460/MT, FoB China. Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,440-3,480/MT (ex-works). Chinese CRC export offers are in range of USD 485-495/MT, FoB basis.
Chinese Re-bar Export Offers fell marginally – Chinese re-bar export offers decline marginally by USD 5/MT this week despite surge in spot market.Prices are heard in the range of USD 445-455/MT, FoB China.Current spot prices are evaluated in East China, Shanghai at RMB 3,570/MT (USD 527) and North China, Beijing at RMB 3,620/MT (USD 534) on weekly basis.
Steel Raw Material & Finished Steel Prices in China
| Particulars | Currency | Current Prices |
1 W | 1 M |
| Spot Iron Ore Fines Fe 62%, CNF China |
USD | 65 | 57 | 57 |
| Iron Ore Concentrate in Hebei Province, Fe 66% (ex works) |
RMB | 655 | 615 | 680 |
| Met Coke, 64%, FoB China | USD | 255 | 253 | 279 |
| Chinese Domestic Billet, ex-works |
RMB | 3,340 | 3,200 | 3,100 |
| Billet 150*150 mm, FoB China |
USD | 430-435 | 425-430 | 415 |
| HRC, FoB China | USD | 460 | 450 | 440 |
| CRC, FoB China | USD | 485 | 480 | 465 |
| Rebar, FoB China | USD | 450 | 455 | 453 |
Prices in per metric tonne
Source-SteelMint Research
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