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Prices of imported iron ore in China's portside and seaborne markets increased on May 20, while trading activities remained lukewarm.
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On May 19, China's national price of HRB400E 20mm dia rebar dropped for the sixth working day, down by another Yuan 42/tonne ($6.2/t) on day to touch a 3.5-month low of Yuan 4,832/t including the 13% VAT, while spot sales of construction steel including rebar recovered by 32.5% on day after two days of declines, both according to Mysteel's assessments.
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Chinese prices of imported iron ore recovered after two days of decline on Thursday, while trading activities for portside stocks and seaborne cargoes diverged, with that for the former cooling while business for the latter improved.
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On May 18, China's national price of HRB400E 20mm dia rebar eased for the fifth working day, down by another Yuan 40/tonne ($5.9/t) on day to hit a 2.5-month low of Yuan 4,874/t including the 13% VAT, while spot sales of construction steel including rebar slipped further by 11.7% on day, both according to Mysteel's assessments.
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China's prices of imported iron ore for both port inventories and seaborne cargoes dropped further on May 18, with trading also relatively flat.
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On May 17, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment persisted at a two-month low, or having down for the fourth working day by Yuan 17/tonne ($2.5/t) on day to Yuan 4,914/t including the 13% VAT, and spot trading of construction steel paused from two days of rises, down 17.5% on day.
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China's prices of imported iron ore for both port inventories and seaborne cargoes decreased on May 17, with trading remaining flat.
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China's national price of HRB400E 20mm dia rebar softened for the third working day on May 16 to a two-month low of Yuan 4,931/tonne ($726.7/t) including the 13% VAT, down by another Yuan 25/t on day, according to Mysteel's assessment.
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China's imported iron ore market saw prices for port inventories and seaborne cargoes rise for the second working day on May 16, with trading across both markets subdued.
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China's prices of imported iron ore for both port inventories and seaborne cargoes reversed up on May 13 from the previous day's dip, with the trading for port inventories also improving.
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On May 12, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment reversed from just one day of incline, down by Yuan 8/tonne ($1.2/t) on day to Yuan 4,977/t including the 13% VAT, mainly due to sluggish demand from end-users and the bearish sentiment prevailing in the market amid COVID-related restrictions nationwide and heavy rainfalls in South China.
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China's imported iron ore market saw prices for port inventories and seaborne cargoes decline on May 12, and trading activity in the two markets cooled as well.
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On May 11, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment rebounded after four days of declines, up by Yuan 16/tonne ($2.4/t) on day to Yuan 4,985/t including the 13% VAT.
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China's prices of imported iron ore for both port inventories and seaborne cargoes reversed up on May 11 from the declines of the past few days, with traders' ore buying becoming slightly more active.
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On May 10, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment decreased for the fourth working day by another Yuan 51/tonne ($7.6/t) on day to touch a 1.5-month low of Yuan 4,969/t including the 13% VAT, largely due to bearish market sentiment amid the country's frequent resurgence of COVID-19 cases.
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China's imported iron ore market saw prices for port inventories and seaborne cargoes inch down for the fourth working day on May 10, and trading activities weakened as well.
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On May 9, China's national price of HRB400E 20mm dia rebar eased for the third assessment day by another Yuan 50/tonne ($7.4/t) on day to Yuan 5,020/t including the 13% VAT, and spot sales of construction steel including rebar, wire rod and bar-in-coil among China's 237 trading houses reversed down by 501 tonnes/day or 0.4% on day to 141,870 t/d, both according to Mysteel's assessments.
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On May 9, Chinese prices of imported iron ore for both port inventories and seaborne cargoes dipped from May 7, but trading was relatively active in the portside market. May 7 was a make-up working day for China's Labour Day holiday over April 30-May 4.
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Over April 29-May 6, China's prices of iron ore in both spot and futures markets declined for the third consecutive week, as steel mills were cautious in iron ore procurement amid the bearish market sentiment. In contrast, Chinese spot coke price strengthened over the same time period.
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China's imported iron ore prices for seaborne cargoes and port stocks decreased on May 6, and trading in both markets cooled.
