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China’s imported iron ore prices for both port inventories and seaborne cargoes increased further on February 26.
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On February 25, China’s spot sales of construction steel including rebar, wire rod and bar-in-coil jumped 53.5% on day, and the domestic rebar price appeared rather firm, or having recovered Yuan 9/tonne ($1.4/t) on day, Mysteel’s surveys showed.
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Activity in the Chinese market for imported iron ore improved on February 25 from the previous day, with prices for both port inventories and seaborne cargos rising further.
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On February 24, China’s rebar price took a pause from the rises since February 18, inching down Yuan 9/tonne ($1.4/t) but still persisting at a two-year high, and the spot sales of construction steel including rebar on the same day rebounded 13.6% on day, Mysteel’s surveys showed.
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China’s imported iron ore prices for both port inventories and seaborne cargoes reversed up moderately on February 24 after the previous day’s dips.
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On February 23, China’s rebar price nudged up for the fifth consecutive day, with that of the HRB400 20mm dia rebar refreshing its two-year high, gaining another Yuan 26/tonne ($4/t) on day, though the spot sales of construction steel including rebar reversed down 24.8% on day, according to Mysteel’s market surveys.
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China’s imported iron ore prices softened on February 23, with fewer inquiries observed throughout the whole day.
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On February 22, China’s rebar price rose to its two-year high after having nudged up for the fourth consecutive day since China was back to work from the Chinese New Year (CNY) break on February 18, and the daily sales of construction steel including rebar, wire rod and bar-in-coil revived to 101,029 tonnes/day , according to Mysteel’s monitoring.
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Imported iron ore prices in China’s portside and seaborne markets increased on February 22, with trading for port inventories also improving.
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China’s national price of the HRB400 20mm dia rebar soared for the second day on February 19 after the Chinese New Year (CNY) holiday, gaining another Yuan 76/tonne ($11.8/t) on day to Yuan 4,554/t and including the 13% VAT, according to Mysteel’s assessment, which strongly indicated the domestic steel market optimism on the revival in the domestic demand soon and the remaining support from the rising raw material prices.
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China’s imported iron ore prices for both port inventories and seaborne cargoes subsided moderately on February 19 after Thursday’s surges, with the trading for port inventories thin.
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On February 18, the first working day after the Chinese New Year holiday in China, the country’s HRB400 20mm dia rebar price soared by Yuan 120/tonne ($18.5/t) from February 10 to Yuan 4,478/t including the 13% VAT, according to Mysteel’s assessment, in tandem with the price surges in both billet and iron ore on the same day.
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China’s prices for imported iron ore at ports and for seaborne cargoes swelled on February 18, the first trading day after the Chinese New Year break over February 11-17, with more trades concluded compared with February 10, the last business day prior to the break.
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China’s HRB400 20mm dia rebar price stayed unchanged at Yuan 4,358/tonne ($675/t) including the 13% VAT over February 11-17 when the country celebrated the Chinese New Year (CNY) holiday, though signs have emerged that the price may strengthen soon after the holiday, as many construction projects have been operating throughout the CNY.
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On February 9, China’s HRB400 20mm dia rebar price has been into a static mode, remaining unchanged at Yuan 4,358/tonne ($670.5/t) including the 13% VAT, according to Mysteel’s assessment..
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China’s imported iron ore market saw prices for port inventories and seaborne cargoes gain on February 9, though both markets were quiet with the Chinese New Year (CNY) holiday officially beginning in just one day’s time.
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On February 8, China’s rebar price had been holding well, unfazed at all by the little trading in the spot market, with the HRB400 20mm dia rebar price even inching up for the second day by another Yuan 1/tonne ($0.15/t) on day to Yuan 4,358/t and including the 13% VAT, according to Mysteel’s surveys.
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China’s imported iron ore market saw prices for port inventories make gains on February 8 amid the firm market sentiment. Trading for port inventories however, remained sluggish.
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On February 5, China’s spot sales of construction steel including rebar, wire rod and bar-in-coil slumped for the third straight day, down another 39.6% on day or 4,912 tonnes/day to below 10,000 tonnes, and the domestic rebar price showed little movement with the lack of trading, Mysteel’s surveys showed.
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China’s prices of iron ore port stocks increased on February 5 while those of seaborne ore decreased. At the same time, trading of imported iron ore cooled.
