Chinese Steel Market Highlights - Week 41,2018
Mining News Pro - This week Chinese steel prices witness gains in domestic market post golden week holidays.However export offers continued to remain on lower side.Flat steel and rebar export offers remain steady over dull trades.Coking coal offers inch up on weekly basis.
  Zoom:

According to Mining News Pro -This week Chinese steel prices witness gains in domestic market post golden week holidays.However export offers continued to remain on lower side.Flat steel and rebar export offers remain steady over dull trades.Coking coal offers inch up on weekly basis. Billet export offers remained stable.However iron ore prices moved up towards the week end.


On monthly basis Chinese finished steel export volumes inched up by 1% to 5.95 MnT in Sep’18 in comparison to 5.875 MnT in Aug’18. On yearly basis the same moved up by 16% in Sep’18 against 5.14 MnT in Sep’17.


China’s major steelmaker - Baosteel has announced HRC & CRC for November deliveries. The company has kept flat steel prices unchanged after increasing prices for past two consecutive months.


Meanwhile Tangshan, which is China’s one of the key-steel producing city of Hebei province has already announced production cuts, starting 1 Oct’18, by dividing the city`s mills into four categories based on emissions intensity and imposing production cuts from 1 Oct 2018 to 31 Mar 2019.


Chinese spot iron ore prices - Chinese spot iron ore prices opened up this week at USD 69.40/MT, CFR China and increased to USD 71.05/MT, CFR China towards the week end.Spot lump premium has witnessed stability for the week at 0.3320/DMTU last week.Lump demand in Chinese market remains strong for the winter heating season and thus expected to pick up soon.


Spot pellet premium drops further -Spot pellet premium for Fe 65% grade pellets assessed at USD 84.60/DMT, CFR China down by USD 1.90/DMT W-o-W against 86.5/DMT a week before as mills in China are holding enough stocks and are buying iron ore fines.


According to General Administration of Customs, China - world`s largest iron ore consumer and importer recorded iron ore and pellet imports at 272.38 MnT in third quarter CY`18,rise of 5% on quarterly basis compared to 260.30 MnT in Q2 CY`18.


Coking coal offers moved up this week-Seaborne coking coal offers moved up this week However during golden week holidays market activities in China came to halt as buyers were holding back the offers.


Although with the onset of winters in China,steelmakers may look to restock materials.


Currently Premium HCC prices is assessed around USD 217/MT FoB Australia.Last offers was hovering in range of USD 215/MT FoB basis.


Chinese HRC export offers inch down post golden week holidays- This week Chinese HRC export offers inch down by USD 5/MT post Golden Week holidays. Weakening demand amid week long holidays coupled with dull market sentiments results to lower HRC export offers from China.


Currently HRC export offers from China was assessed around USD 555-560/MT FoB basis. Before holidays mills were offering at USD 560-570/MT FoB basis.


However after holidays, Chinese mills have increased prices in domestic market and are offering at RMB 4,220-4,250/MT (ex-works) in Eastern China and RMB 4,110-4,120 /MT in (Northern China).


Chinese Re-bar export offers remain steady-Nation’s rebar export offers remain firm despite increase in domestic prices post golden week holidays.


Currently,nation’s re-bar export offers are at USD 569-570/MT FoB China.Last week rebar export offers was assessed at similar range
However domestic rebar prices stood at RMB 4,540-4,580/MT in (Eastern China) and RMB 4,340-4,370/MT in (Northern China).


Meanwhile amid lighter winter production cut restriction in 28 cities of northern China may weigh on domestic steel prices in China.


Chinese Iron and Steel Prices Week 41,2018

Particulars

Currency

Current
Prices
perMT

1W

1M

SpotIronOreFinesFe62%,

CNFChina

USD

71

69

68

MetCoke,64%,FoBChina

USD

365

364

388

PremiumHCC,CNFChina

USD

214.25

212.50

205.5

Billet150*150mm,FoBChina

USD

525

525

538

Rebar,FoBChina

USD

569

568

571

WireRod.FoBChina

USD

580

590

592

EasternChinaDomestic

HRCPricesex-Works

RMB

4,234

4,257

4,273

HRC,FoBChina

USD

555-560

560

577

CRC,FoBChina

USD

605

610

615

Plate,FoBChina

USD

585

600

602

 

 


Share the news

In Picture