Chinese steel futures after declining in mid of this week showed recovery towards the week end.This week Rebar and flat product export offers witnessed the rise of USD 10/MT,FoB basis. Demand for imported coking coal also remained positive on active buying and iron prices remained on higher side.
Chinese spot iron ore prices remained rangebound – Benchmark index in China for Fe 62% fines kept hovering in the range of USD 78-80/MT, CFR China. Demand for high grade material remained strong. Spot lump premium increased to USD 0.23/MT and pellet premium increased by USD 1/MT to USD 32.5/DMT, CFR China. Iron ore inventory at Chinese major ports fell by 1.75 MnT W-o-W to 133.45 MnT.
Coking Coal prices inched up by USD 9/MT on strong purchase -Coking coal price rises by USD 9/MT,W-o-W basis owing to strong demand for imported coking coal from China.Active steel-making in China also pushes the coking coal prices in domestic market.The latest offer for the Premium HCC is assessed at USD 203.50/MT FoB Australia against USD 194.5/MT,FoB compared with previous week.
Chinese domestic billet prices declined in this week – Chinese domestic billet prices fell throughout this week from RMB 3,850/MT (ex-works) in beginning of the week to RMB 3,780/MT (ex-works).
China’s HRC export offers rises on slower pace over thin trading –
Chinese HRC export offers rise further by USD 5-9/MT, W-o-W in slower pace owing to weak trading in the global market.In last eleven weeks, nation has recorded growth of HRC export offers by USD 120-125/MT in last eleven weeks on higher domesti prices.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 550-560/MT, FoB China.Meanwhile prices in the domestic market are in range of RMB 4,160-4,180/MT (ex-works).CRC export offers are in range of USD 595-600/MT,FoB China.
Chinese Re-bar export offers moved up by USD 10/MT-Chinese re-bar export offers increases by USD 10/MT,W-o-W basis.Continuous rise in futures market, active trading in billet coupled with rising production cost push the rebar prices on higher side.The fresh offers are assessed at USD 560-570/MT FoB main port.The offers in the domestic market are in range of RMB- 4,060-4,110/MT (ex-works)
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 | 78 | 78 | 69 |
| Iron Ore Concentrate in Hebei Province, Fe 66% (ex works) |
RMB | 745 | 725 | 665 |
| Met Coke, 64%, FoB China | USD | 319 | 310 | 291.5 |
| Chinese Domestic Billet, ex-works |
RMB | 3,780 | 3,770 | 3,450 |
| Billet 150*150 mm, FoB China |
USD | 525 | 532.5 | 465 |
| HRC, FoB China | USD | 560 | 550 | 505 |
| CRC, FoB China | USD | 610 | 600 | 530 |
|
Rebar, FoB China |
USD | 558 | 550 |
483 |
Prices in USD/MT
Source:SteelMint Research
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