China’s major steelmakers Baosteel has raised the flat product prices by USD 22/MT and Wuhan steel rises up-to USD 44/MT for Aug’17 deliveries. Week 29 was characterized by hike in re-bar and flat steel export offers following gains in domestic market, rise in coking coal offers and sharp surge in domestic billet prices hitting 5 years high.
Chinese spot iron ore prices up 5% W-o-W- Benchmark index in China for Fe 62% fines prices moved up this week further amid rising steel prices and closed at USD 66/MT, CFR China by weekend. Iron ore inventory at Chinese major ports stood at 139.7 MnT. Lump premium moved up to USD 0.22/DMT, CFR China. Pellet premium rose to USD 31/DMT, CFR China.
Coking Coal Price Moves up as South32 declares force majeure-Coking Coal offers from Australia have gone up significantly as the South 32 declares force majeure.Prior to the force majeure, Coking Coal prices is showing upward trend due to the demand getting stronger on resumption of imports by Chinese steel makers.
The latest offer for the Premium HCC is assessed at USD 164/MT FoB Australia higher by USD 11/MT compared with USD 153/MT,last week.
Chinese domestic Billet prices hit 5 year high – Chinese domestic billet prices hit 5 year high and touched RMB 3400/MT ex-Tangshan, including 17% VAT owing to short supply. Chinese Billet export offers moved up further to USD 460-470/MT, FoB basis.
China’s flat steel export continues to gain further by USD 10/MT-Chinese steelmakers have raise the HRC export prices by USD 45-50/MT in last five weeks and have once again raised the HRC export offers by USD 10/MT on further gains in domestic market.HRC export offers are prevailing in the range of USD 475-485/MT, FoB China. Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,660-3,700/MT (ex-works). Chinese CRC export offers are in range of USD 505-515/MT, FoB basis.
Chinese Re-bar export offers moved up this week– Chinese re-bar export prices rises in line with gain in domestic market.The export offers rose by USD 5/MT, W-o-W and the fresh offers are around USD 475-480/MT, FoB China.Current spot prices are evaluated in East China, Shanghai at RMB 3,770/MT (USD 555) and North China, Beijing at RMB 3,760/MT (USD 554) 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 | 66 | 63 | 56 |
| Iron Ore Concentrate in Hebei Province, Fe 66% (ex works) |
RMB | 665 | 655 | 615 |
| Met Coke, 64%, FoB China | USD | 288 | 282 | 253 |
| Chinese Domestic Billet, ex-works |
RMB | 3,400 | 3,280 | 3,050 |
| Billet 150*150 mm, FoB China |
USD | 460-470 | 440 | 420 |
| HRC, FoB China | USD | 475-485 | 470 | 440 |
| CRC, FoB China | USD | 505 | 495 | 465 |
| Rebar, FoB China | USD | 475-480 | 470-475 | 453 |
Prices per metric tonne
Source-SteelMint Research
Leave a Reply