This week Chinese steel market witnessed rise in Re-bar and flat steel export offers amid further hike in domestic prices amid positive buying.Coking coal prices move upwards on robust demand from Chinese steelmakers. Iron ore prices remained on higher side.
Chinese spot iron ore prices remained range bound – Benchmark index in China for Fe 62% fines prices kept hovering in the range of USD 72-74/MT, CFR China. Lump premium fell marginally to USD 0.195/DMT, CFR China. Pellet premium fell by USD 1/MT to USD 29.5/DMT, CFR China. Iron ore inventory at Chinese major ports fell marginally to 139.15 MnT.
Coking Coal Prices rises on strong buying by Chinese steelmakers-Coking Coal prices shown the uptrend this week owing strong demand from Chinese buyers.The occurrence of coking coal mine collapse incident at the Shanxi region of China has resulted to increase in demand causing rise in imported coking coal prices.
Imported Coking coal prices recorded the increase of USD 2.5/MT on FoB basis
The latest offer for the Premium HCC is assessed at USD 181/MT FoB Australia against USD 178.50/MT, FoB compared with previous week.
Absence of Chinese billet continues in global market – Chinese domestic billet prices remained stable at RMB 3,600/MT. Global market continues to witness insufficient supply of Chinese billets. Billet export prices are witnessing hike owing to improved demand and shortage of billet in global market. Chinese billet export assessment is around USD 480-490/MT, FoB.
China’s flat steel export offers soars on strengthening domestic market-Chinese mills have sharply raised HRC export offers by USD 15/MT,W-o-W basis for Sep-Oct’17 shipments owing to surge in domestic HRC prices.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 520-530/MT,FoB China.Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,950-4,000/MT.
Chinese Re-bar export offer rises over price rally in China- Chinese re-bar export prices increases by USD 10/MT,W-o-W basis amid domestic gains in Chinese steel market.Offers are heard around USD 490-495/MT,FoB China. Current spot prices are evaluated in East China,Shanghai at RMB 3,870/MT (USD 576) and North China, Beijing at RMB 3,830/MT (USD 571) 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 | 74 | 68 | 67 |
| Iron Ore Concentrate in Hebei Province, Fe 66% (ex works) |
RMB | 685 | 665 | 655 |
| Met Coke, 64%, FoB China | USD | 295 | 292 | 255 |
| Chinese Domestic Billet, ex-works |
RMB | 3,600 | 3,470 | 3,340 |
| Billet 150*150 mm, FoB China |
USD | 485 | 470 | 440 |
| HRC, FoB China | USD | 520-530 | 505-510 | 470 |
| CRC, FoB China | USD | 540-550 | 530-535 | 485 |
| Rebar, FoB China | USD | 490-495 | 480-485 | 475 |
Prices in USD/MT
Source-Steelmint Research
Leave a Reply