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Mysteel’s national average price for HRB400 20mm dia rebar declined for the fifth successive day by another Yuan 20/tonne ($3/t) on day to Yuan 3,973/t including the 16% VAT as of February 20, as demand revival after the Chinese New Year break has been hindered by rainy days in China.
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China’s Tangshan billet price gained Yuan 80/t from February 3 to Yuan 3,510/t ($520.6/t) on the morning of February 11, the first working day after the Chinese New Year holiday, though the finished steel prices remained steady during the Chinese New Year holiday on February 4-8. Mysteel’s latest assessment of the national average HRB 400 20mm dia rebar benchmark price as of February 3 showed that the price had stayed at Yuan 3,952/tonne including 16% VAT for seven consecutive days.
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Chinese steel prices were largely stable on Monday. Mysteel’s national average HRB 400 20mm dia rebar price rose by just Yuan 6/tonne ($0.9/t) on day to Yuan 3,950/t including the 16% VAT as of January 28. Mysteel’s Q235 150mm square billet benchmark remained unchanged, reflecting the fact that major billet suppliers have locked-in prices with buyers at Yuan 3,430/tonne ($508.9/t) EXW and including the VAT since January 25. The lock-in period will last until the Chinese New Year holiday ends on February 10.
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The price of Q235 150mm square billet in North China’s Tangshan city, a crucial pointer of country’s steel-market sentiment, has hovered at Yuan 3,430/tonne ($508.5/t) EXW and including the 16% VAT since January 25. Billet suppliers in Tangshan had earlier opted to lock their offering prices for billet till February 10 at Yuan 3,400/t, but on Friday, they decided to raise the lock prices by Yuan 30/t.
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China’s steel prices with long steel in particular picked up on Tuesday with Mysteel’s Tangshan Q235 150mm square billet price up Yuan 30/tonne ($4.4/t) on day to Yuan 3,430/t EXW and the national average HRB 400 20mm dia rebar benchmark price up Yuan 6/t on day to Yuan 3,940/t as of January 22, both including the 16% VAT.
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Mysteel’s national HRB 400 20mm dia rebar benchmark slipped for the sixth consecutive working days on Wednesday, down another Yuan 5/tonne ($0.7/t) on day to Yuan 3,911/t including the 16% VAT as of January 16 as the continuing declines in spot sales took a toll.
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Price trends of semi-finished and finished steel in China’s domestic market diverged further on Thursday, with Mysteel’s Tangshan Q235 150mm billet up for a sixth consecutive working day, gaining another Yuan 20/tonne ($2.9/t) on day to Yuan 3,420/t EXW. Conversely, Mysteel’s national HRB 400 20mm dia rebar lost another Yuan 4/t on day to Yuan 3,934/t as of January 10. Both prices include the 16% VAT.
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Rebar trading in China’s steel market showed signs of improvement on Thursday, though the transaction price still stayed on the downtrend amid the overall sluggish demand, with Mysteel’s national average price for HRB400 20mm dia rebar having slipped for the fourth day, down another Yuan 7/tonne ($1/t) on day to Yuan 3,933/t including the 16% VAT.
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Mysteel’s national HRB 400 20mm dia rebar benchmark price reversed down by Yuan 18/tonne ($2.6/t) on Monday from last Friday to reach Yuan 4,032/t including the 16% VAT. Some traders lowered their prices slightly after the rather slack sales over the weekend but their sentiment remained calm, market sources said.
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Mysteel’s national average price for HRB400 20mm dia rebar increased for the second consecutive day, up another Yuan 22/tonne ($3.2/t) on day to Yuan 4,050/t including the 16% VAT as of December 21, which was mainly attributed to the growing concern on potential supplies decrease with the frequent measures by the Tangshan government in North China’s Hebei province recently on battling against air pollution.
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Chinese steel prices reversed down on Tuesday, with the HRB 400 20mm dia rebar benchmark price as assessed by Mysteel losing Yuan 8/tonne ($1.2/t) on day to reach Yuan 4,031/t including the 16% VAT after registering gains for the past three working days.
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China’s domestic steel market bottomed and stabilized on Wednesday, with Mysteel’s national HRB 400 20mm rebar benchmark price remaining unchanged at Yuan 3,982/tonne ($578.8/t) including the 16% VAT as of December 12, snapping four consecutive working days of declines.
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Weak construction-steel demand, caused by snowfalls and freezing weather in North China and continuing rains in East China, continues to weigh heavily upon steel prices, with Mysteel’s national average price for HRB400 20mm dia rebar losing Yuan 46/tonne ($6.7/t) on day to Yuan 3,982/t including the 16% VAT on December 11, the lowest level since late April.
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The price of Tangshan Q235 150mm square billet in North China’s Hebei province, a key indicator of China’s steel market sentiment, recovered by Yuan 70/tonne ($10.2/t) on day to Yuan 3,330/t including the 16% VAT as of December 5, mainly as the market sentiment was boosted with the speculation that the Tangshan government may enhance the efforts in the battle against the air pollution.
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China’s Tangshan Q235 150mm square billet price in North China’s Hebei province rebounded forcefully by Yuan 150/tonne ($21.6/t) from last Friday to Yuan 3,230/t EXW and including the 16% VAT as of December 2, mainly on the encouragement of positive signals with the ease in the tension between China and the US on the trade friction.
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China’s national average price for HRB400 20mm dia rebar price, after nearly a month of declines, finally reversed up by Yuan 15/tonne ($2.2/t) on day to Yuan 4,006/t including the 16% VAT as of November 29, for regaining the Yuan 4,000/t level after having lost the ground for 19 days.
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Chinese steel prices quickly refreshed new lows on Monday. Mysteel’s HRB 400 20mm dia rebar benchmark price in North China’s Beijing municipality, the long steel price representative of the wider Chinese market, plunged by Yuan 320/tonne ($46.1/t) from last Friday to a 17-month low of Yuan 3,630/t including the 16% VAT as of November 26.
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China’s domestic steel prices, especially long steel, slid at a breakneck speed on November 20 with Mysteel’s Tangshan Q235 150mm square billet price slumping to a seven-month low of Yuan 3,450/tonne EXW with a Yuan 130/tonne ($4.3/t) in a single day, and the HRB 400 20mm dia rebar price in Shanghai also fell Yuan 100/t day on day to Yuan 4,150/t despite the demand in East China should have been better than in North China. Both prices include the 16% VAT.
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The price of Q235 billet in Tangshan in North China’s Hebei province, Chinese steel’s bellwether price, continued to soften over the weekend, losing a large Yuan 90/tonne ($13/t) from last Friday’s Yuan 3,640/t to reach Yuan 3,550/t EXW and including the 16% VAT as of November 18.
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Chinese steel prices continued to fall on Wednesday, but the pace of the decline eased, with Mysteel’s HRB 400 20mm dia rebar benchmark price dipping only Yuan 7/tonne ($1/t) on day to Yuan 4,547/t including the 16% VAT – much slower than the day-on-day tumble of Yuan 20/t on Tuesday.
