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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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Mysteel’s 62% portside iron ore fines index slid Yuan 3/wmt ($0.4/wmt) on day on December 11 to reach Yuan 537/wmt FOT Qingdao and including 16% VAT. However, the 62% seaborne iron ore fines index edged up by $0.1/dmt on day to $66.85/dmt CFR Qingdao Tuesday.
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Chinese prices of imported iron ore dipped on December 10, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes losing $0.15/dmt on day to $66.75/dmt CFR Qingdao. The index for port inventories also softened Yuan 2/wmt ($0.44/wmt) on day to Yuan 540/wmt FOT Qingdao and including 16% VAT.
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Mysteel’s 62% portside iron ore fines index edged up by Yuan 2/wmt ($0.3/wmt) on day on December 7 to Yuan 542/wmt FOT Qingdao and including 16% VAT. The 62% seaborne iron ore index also increased by a slight $0.4/dmt on day to $66.9/dmt CFR Qingdao Friday.
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Chinese prices of imported iron ore reversed down on Thursday, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes losing $1.6/dmt on day to $66.5/dmt CFR Qingdao. The index for port inventories also edged down Yuan 3/wmt ($0.44/wmt) on day to Yuan 540/wmt FOT Qingdao and including 16% VAT.
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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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Iron ore prices in China’s physical market strengthened for a third consecutive day on Wednesday, with Mysteel’s 62% portside iron ore fines index increasing to Yuan 543/wmt ($79.1/wmt) FOT Qingdao and including the 16% VAT, representing a pick-up of Yuan 3/wmt on day. The 62% seaborne iron ore fines index also edged up $0.5/dmt on day to $68.1/dmt CFR Qingdao Wednesday.
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Chinese prices of imported iron ore further recovered on Tuesday, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes gaining another $0.8/dmt on day to $67.6/dmt CFR Qingdao. The index for port inventories also rose Yuan 6/wmt ($0.87/wmt) on day to Yuan 540/wmt FOT Qingdao and including 16% VAT.
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China’s market for imported iron ore increased on December 3, with Mysteel’s price index for 62% seaborne iron ore fines growing by $1.3/dmt on day to $66.8/dmt CFR Qingdao. Also, the 62% portside iron ore fines price index gained Yuan 11/wmt ($1.6/wmt) on day to Yuan 534/wmt FOT Qingdao and including 16% VAT.
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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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Chinese prices of imported iron ore were relatively static on November 30, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes remaining unchanged at $65.5/dmt CFR Qingdao. Similarly, the index for port inventories also stalled at Yuan 523/wmt ($75.3/wmt) FOT Qingdao and including 16% VAT.
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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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Mysteel’s 62% portside iron ore fines index reached Yuan 523/wmt ($75.3/wmt) FOT Qingdao and including 16% VAT on November 29, registering a tiny increase of Yuan 2/wmt on day. However, the 62% seaborne iron ore fines index dropped $0.3/dmt on day to $65.5/dmt CFR Qingdao Thursday.
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China’s market for imported iron ore saw Mysteel’s price index for 62% seaborne iron ore fines gain a further by $1.1/dmt on day to $65.8/dmt CFR Qingdao on Wednesday, while the 62% portside iron ore fines price index remained unchanged at Yuan 521/wmt($74.9/t) FOT Qingdao and including 16% VAT.
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On November 27, Mysteel’s 62% portside Australian iron ore fines pricing index softened further to its nearly two-month low of Yuan 521/wmt ($75/wmt) FOT Qingdao and including 16% VAT after a further decline by Yuan 8/wmt on day, while the 62% seaborne Australian iron ore pricing index rebounded $0.25/dmt on day to $64.7/dmt CFR Qingdao.
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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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The downward trend in China’s market for imported iron ore continued Monday, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes losing another $4.7/dmt from last Friday to $64.45/dmt CFR Qingdao and hitting a new low since July 19. In parallel, the index for port inventories also slumped Yuan 36/wmt ($5.2/wmt) from last Friday to Yuan 529/wmt FOT Qingdao and including 16% VAT – also a new low since October 9.
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Mysteel’s 62% portside iron ore fines index edged down by Yuan 13/wmt ($1.9/wmt) on day as of November 23 to reach Yuan 565/wmt FOT Qingdao and including 16% VAT, the lowest level the index has reached since October 24. The 62% seaborne iron ore fines index also dropped $2.55/dmt on day to $69.15/dmt CFR Qingdao Friday.
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Mysteel’s 62% portside iron ore fines index fell Yuan 7/wmt ($1/wmt) on day on November 22 to reach Yuan 578/wmt FOT Qingdao and including 16% VAT. The 62% seaborne iron ore fines index also dropped $1.9/dmt on day to $71.7/dmt CFR Qingdao Thursday.
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The Chinese market for imported iron ore was still largely inactive on November 21, with Mysteel’s 62% Australian iron ore fines price index for seaborne cargoes rising by a meager $0.7/dmt on day to $73.6/dmt CFR Qingdao, while the index for port inventories was stable at Yuan 585/wmt ($84.2/wmt) FOT Qingdao and including 16% VAT.
