Chinese Re-bar and flat product prices remained weak on account of bearish sentiments prevailing in the domestic market. Coal prices seems declining this week owing to scarcity of demand and thin trading from Chinese steel mills. Spot iron ore prices in China fell 6% W-o-W amid less trade activities.
Chinese spot iron ore prices fall further – Fe 62% fines prices slipped further to USD 54/MT, CFR China, down by 5% W-o-W amid subdued trading activities.
Iron ore inventories at Chinese major ports remained on the high side. On 09 Jun’17, iron ore stock at Chinese major ports climbed to 140.05 MnT, up around 3% W-o-W. Lump premium moved up to USD 0.14/DMT, CFR China. Pellet premium increased further to USD 26.75/DMT, CFR China.
Coking coal prices assessed below USD150/MT on scarcity of demand
China’s coking coal spot prices remained below USD 150/MT as their was scarcity of demand resulting to constant falling of prices.The latest offer for the Premium HCC is heard in the range of USD 148/MT FoB Australia.Since Chinese steel mills have stocked up the coal inventories resulting to sluggish demand for imported coal.
Chinese billet export offers surges on domestic gains – Chinese billet export offers surged this week to USD 415-420/t,FoB basis on account of higher domestic prices. Workable offers for Q235 150*150mm still remains at around USD 405-410/MT FoB China.However,demand has picked up since the inventories were lined up before Ramadan festival.
China’s flat steel export offers decline over Dull buying– Chinese flat steel prices declined this week by USD 10-15/MT,owing to softening of global demand along with bearish sentiments prevailing in the domestic market.HRC export offers are prevailing in the range of USD 430-435/MT, FoB China. Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,120-3,150/MT (ex-works). Chinese CRC export offers are at USD 470-480/MT, FoB basis.
Chinese Re-bar Prices move down marginally by USD 5/MT – Chinese re-bar export offers decline by USD 5/MT this week on softening global demand .Prices are heard in the range of USD 445-450/MT, FoB China.Current spot prices are evaluated W-o-W basis in East China, Shanghai at RMB 3,580/MT (USD 526) and North China, Beijing at RMB 3,490/MT (USD 51).
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 | 54 | 57 | 60 |
| Iron Ore Concentrate in Hebei Province, Fe 66% (exworks) |
RMB | 640 | 670 | 690 |
| Met Coke, 64%, FoB China | USD | 267 | 279 | 300 |
| Chinese Domestic Billet, ex-works |
RMB | 2,990 | 3,090 | 2,920 |
| Billet 150*150 mm, FoB China |
USD | 420 | 410-420 | 420 |
| HRC, FoB China | USD | 430-435 | 440-450 | 420-430 |
| CRC, FoB China | USD | -470 | 465- | 450 |
| Rebar, FoB China | USD | 445-450 | 450-455 | 420 |
Prices in per metric tonne
Source-SteelMint Research
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