Chinese Steel Market Highlights-Week 26

Chinese Re-bar and flat product prices moved up this week over bullish sentiments experienced in the China’s domestic market. However, decline in coal prices halted this week.Spot iron ore prices in China moved up on weekly basis.

Chinese spot iron ore prices edged up – Chinese spot iron ore prices for Fe 62% fines prices moved up marginally towards the week end to USD 57/MT, CFR China.Iron ore stock at Chinese major ports stood at 141.15 MnT, up 2.5 MnT, W-o-W.Lump premium moved up to USD 0.196/DMT, CFR China. Pellet premium increased further to USD 30/DMT, CFR China.

Coking Coal Price Fall Comes to Halt
Coking coal price fall has come to a halt.Taking advantage of declining prices in last few weeks,Chinese importers had resumed coking coal imports The latest offer for the Premium HCC is assessed at USD 141.50/MT FoB Australia.

Absence of Chinese billet cargo – Chinese billet export offers continue to remain high at USD 430/MT, FoB China. There was less supply of Chinese billets in the market. However domestic billet prices in China moved up by RMB 80/MT W-o-W.

China’s flat steel export offers Moved Up by USD 10/MT-Chinese HRC export offers went up this week over stronger domestic market.Chinese mills have raised the HRC export offers by USD 10/MT,W-o-W basis,however it results to dent in demand from overseas buyers.

Currently HRC export offers are prevailing in the range of USD 445-450/MT, FoB China. Last week the offers were heard in the range of USD 435-440/MT,FoB China.

Chinese Re-bar Export offers Rises by USD 5/MT – Chinese re-bar export offers surged by USD 5/MT despite thin buying.Prices are heard in the range of USD 450-460/MT, FoB China The spot offers in Shanghai, East China are hovering at RMB 3,480/MT (USD 511/MT) with fall of RMB 120/MT (USD 17),W-o-W basis.

Steel Raw Material & Finished Steel Prices in China

Prices in per metric tonne
Source-SteelMint Research