Chinese Re-bar and flat product prices moved up this week over stronger domestic market Coal prices seems declining this week owing to thin trading from Chinese steel mills. Spot iron ore prices in China moved up on weekly basis.
Chinese spot iron ore prices fall further – Chinese spot iron ore prices for Fe 62% fines prices moved up marginally towards the week end to USD 55.6/MT, CFR China.Iron ore stock at Chinese major ports stood at 138.95 MnT, down 1.1 MnT, W-o-W.Lump premium moved up to USD 0.17/DMT, CFR China. Pellet premium increased further to USD 27.75/DMT, CFR China.
Coking Coal Prices Decline Further on weak Demand.
Coking Coal prices has put Chinese steel makers onto the back foot, postponing purchases and waiting for the coal prices to decline to the lowest levels. There was no significant increase in import demand for the coal in the Australian market as such. The latest offer for the Premium HCC is assessed at around USD 147/MT FoB Australia, slightly lower than last week.
Chinese Billet export Rises amid Thin Buying –
Chinese billet export offers remain high and no trade activities were reported. Last offers are assessed at USD 420/MT FoB Chinese main port.
China’s flat steel export offers Moved Up– Chinese HRC export offers moved up by USD 5/MT,W-o-W basis over optimistic domestic market. However sentiments continue to remain bearish for coming months over falling futures.HRC export offers are prevailing in the range of USD 435-440/MT, FoB China. Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,250-3,270/MT (ex-works). Chinese CRC export offers are at USD 470-475/MT, FoB basis.
Chinese Re-bar Export offers Surges On stronger spot market – Chinese re-bar export offers surged by USD 5/MT this week on stronger spot market.Prices are heard in the range of USD 450-455/MT, FoB China.Current spot prices are evaluated in East China, Shanghai at RMB 3,600/MT (USD 529); increase by RMB 40/MT (USD 6) and North China, Beijing at RMB 3,560/MT (USD 523); surge by RMB 70/MT (USD 10), W-o-W.
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 | 56 | 54 | 62 |
| Iron Ore Concentrate in Hebei Province, Fe 66% (exworks) |
RMB | 615 | 640 | 690 |
| Met Coke, 64%, FoB China | USD | 253 | 267 | 291 |
| Chinese Domestic Billet, ex-works |
RMB | 3,120 | 2,990 | 3,020 |
| Billet 150*150 mm, FoB China |
USD | 420 | 410-420 | 420 |
| HRC, FoB China | USD | 435-440 | 430-435 | 430 |
| CRC, FoB China | USD | 470 | 470 | 460 |
| Rebar, FoB China | USD | 450-455 | 445-450 | 423 |
Prices in per metric tonne
Source-SteelMint Research
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