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Chinese prices of imported iron ore continued to decrease on February 21, with Mysteel’s price index for 62% seaborne iron ore fines falling another $0.9/dmt on day to $86.45/dmt CFR Qingdao. Also, the 62% portside iron ore fines price index dropped another Yuan 2/wmt ($0.3/wmt) on day to Yuan 649/wmt FOT Qingdao and including 16% VAT.
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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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Mysteel’s 62% portside iron ore fines index weakened by Yuan 10/wmt ($1.5/wmt) on day to Yuan 651/wmt FOT Qingdao and including the 16% VAT on February 20 while the 62% seaborne iron ore fines index the same day also slipped by $1.1/dmt on day to $87.35/dmt CFR Qingdao.
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Mysteel’s 62% portside iron ore fines index grew by Yuan 5/wmt ($0.74/wmt) on day on February 19 to reach Yuan 661/wmt FOT Qingdao and including the 16% VAT. The 62% seaborne iron ore fines index also edged up $0.35/dmt on day to $88.45/dmt CFR Qingdao Tuesday.
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Chinese prices of imported iron ore gained a little ground on February 18, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes higher by $0.5/dmt from last Friday at $88.1/dmt CFR Qingdao. In parallel, the price for ore of the same grade and origin at the ports also up by Yuan 2/wmt ($0.3/wmt) from last Friday to Yuan 656/wmt FOT Qingdao including 16% VAT.
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China’s iron ore prices at ports increased slightly on Thursday with Mysteel’s 62% portside iron ore fines index rising by Yuan 2/wmt ($0.3/wmt) on day to Yuan 659/wmt FOT Qingdao including 16% VAT. At the same time the 62% seaborne iron ore fines index gained $1.5/dmt on day to $87.35/dmt CFR Qingdao.
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Chinese prices of imported iron ore lost more ground on February 13, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes lower by another $0.95/dmt on day at $85.85/dmt CFR Qingdao, while the price for ore of the same grade and origin at the ports receded more sharply, tumbling by Yuan 24/wmt ($3.6/wmt) to reach Yuan 657/wmt FOT Qingdao including 16% VAT.
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China’s portside iron ore prices retreated Tuesday after hitting a two-year high the day before, losing Yuan 8/wmt ($1.2/wmt) on day to reach Yuan 681/wmt FOT Qingdao including the 16% VAT as of February 12. At the same time, the 62% grade seaborne iron ore fines pricing index also lost $3/dmt on day to reach $86.8/dmt CFR Qingdao on Tuesday. Trading activity in iron ore also weakened today.
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Mysteel 62% portside iron ore fines price index surged to Yuan 689/wmt ($101.6/wmt) FOT Qingdao and including 16% VAT on February 11, hitting a two-year high and up by Yuan 44/wmt from February 4, Mysteel’s last assessment prior to the Chinese New Year break. On the other hand, the 62% grade seaborne iron ore fines pricing index on Monday lost $1.7/dmt from the five-year high of $89.8/dmt CFR Qingdao seen on February 8. Seaborne prices continued to be assessed over the CNY break.
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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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Mysteel’s 62% grade seaborne iron ore fines pricing index refreshed its 22-month high again on February 1, up another $2/dmt on day to $86.3/dmt CFR Qingdao, and the 62% ferrous content iron ore port stocks price index also gained Yuan 23/wmt on day to Yuan 645/wmt ($92.8/wmt) FOT Qingdao and including 16% VAT, as the Chinese market was buoyed by new fears of further supply disruptions on hearing that one of Vale’s export ports was temporarily shut by the Brazilian authorities.
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Mysteel’s 62% portside iron ore fines index was unchanged on day on January 31 at Yuan 622/wmt ($92.8/wmt) FOT Qingdao and including 16% VAT. The 62% seaborne iron ore fines index rose by another $0.35/dmt on day to $84.3/dmt CFR Qingdao Thursday.
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Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes refreshed its 22-month high to reach $83.95/dmt CFR Qingdao on Wednesday, up by another $3.7/dmt on day. In parallel, the price for same grade and origin ore at the ports gained Yuan 32/wmt ($4.8/wmt) to reach Yuan 622/wmt FOT Qingdao and including 16% VAT – also a 22-month high.
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China’s iron ore market strengthened Tuesday as sentiment remained buoyant, despite mediocre sales. Mysteel’s 62% portside iron ore fines index gained Yuan 3/wmt ($0.4/wmt) from the previous day to Yuan 590/wmt FOT Qingdao and including 16% VAT on January 29. The same day, Mysteel’s 62% seaborne iron ore fines index moved up $1.45/dmt on day to $80.25/dmt CFR Qingdao.
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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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Chinese prices of imported iron ore jumped on January 28, with Mysteel’s price index for 62% seaborne iron ore fines rising by $3.6/dmt on day to hit $78.8/dmt CFR Qingdao, nearly an eleven-month high. In parallel, the 62% portside iron ore fines price index grew Yuan 16/wmt ($2.4/t) on day to top Yuan 587/wmt FOT Qingdao and including 16% VAT, a two-month high.
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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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Chinese portside iron ore prices stayed steady on Friday but sales declined further as mill demand shrank. Mysteel’s 62% portside iron ore fines index reached Yuan 571/wmt ($84.4/wmt) FOT Qingdao including 16% VAT, higher by just Yuan 1/wmt on day, while the 62% seaborne iron ore fines index remained unchanged on day at $75.2/dmt CFR Qingdao.
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Chinese prices of imported iron ore increased on January 24, with Mysteel’s price index for 62% seaborne iron ore fines rising by a slight $0.45/dmt on day to hit $75.2/dmt CFR Qingdao. However, the 62% portside iron ore fines price index remained at Yuan 570/wmt ($83.9/t) FOT Qingdao and including 16% VAT.
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What were the key contributors to developments in China's ferrous industry in 2018?
Which important factors do you need to keep an eye on going into 2019?
Identify opportunities in 2019 with this infographic from Mysteel Global.
