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Mysteel’s imported iron ore prices remained largely stable on December 13, with Mysteel’s portside iron ore index unchanged at Yuan 685/wmt ($98.08/wmt) FOT Qingdao including 13% VAT. Also on Friday, the seaborne iron ore index just reversed up by a tiny $0.4/dmt on day to reach $94.2/dmt CFR Qingdao.
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China’s national benchmark price for the HRB400 20mm dia rebar decreased by Yuan 7/t on day to Yuan 4,005/t including the 13% VAT as of December 12, or close to the threshold of Yuan 4,000/t again after 18 days of hovering above the level, and the spot trading of construction steel slipped too on Thursday.
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Chinese prices for port-market imported iron ore saw small decreases on December 12, with Mysteel’s portside iron index dipping by Yuan 4/wmt ($0.6/t) on day to Yuan 685/wmt FOT Qingdao including the 13% VAT. The same day, the seaborne iron ore index dipped $0.7/dmt on day to $93.8/dmt CFR Qingdao.
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China’s national average benchmark price for HRB 400 20mm dia rebar, the most important indicator of China’s steel market sentiment, reserved down by Yuan 5/tonne ($0.7/t) on day to Yuan 4,012/t including the 13% VAT as of December 11 after one-day pause of decline, while spot sales of construction steel showed moderate recovery on the same day, according to Mysteel’s database.
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Mysteel’s 62% portside iron ore index remained unchanged on day at Yuan 689/wmt ($97.9/wmt) FOT Qingdao and including the 13% VAT on December 11. On the same day, the 62% seaborne iron ore index rose by $1.5/dmt on day to $94.5/dmt CFR Qingdao.
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Chinese prices of imported iron ore in the port market continued to rise on December 10, with Mysteel’s price index for 62% portside iron ore fines higher by another Yuan 5/wmt ($0.7/wmt) on day at Yuan 689/wmt FOT Qingdao including 13% VAT. By contrast, the price of 62% seaborne iron ore fines lost ground, declining by $0.8/dmt on day to hit $93/dmt CFR Qingdao.
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China’s national average HRB400 20mm dia rebar benchmark price, the most important indicator of China’s steel market dynamic, stayed on the downtrend as of December 9, having lost another Yuan 9/tonne ($1.3/t) from last Friday to Yuan 4,016/t including the 13% VAT, or a low since November 15.
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China’s imported iron ore prices surged on December 9, with Mysteel’s seaborne iron ore index jumping to a near two-month high of $93.8/dmt CFR Qingdao, up $5/dmt from last Friday. In parallel, Mysteel’s portside iron ore index also increased by a large Yuan 16/wmt ($3.13/wmt) from last Friday to reach Yuan 684/wmt – a high since October 30, FOT Qingdao including 13% VAT.
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Chinese imported iron ore prices for port inventories and seaborne cargoes saw some small divergence on December 6, with Mysteel’s portside iron ore index easing further by Yuan 3/wmt ($0.43/wmt) to Yuan 668/wmt FOT Qingdao including 13% VAT, while the seaborne iron ore index gained slightly by $0.15/dmt on day to reach $88.8/dmt CFR Qingdao.
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China’s national average HRB400 20mm dia rebar benchmark price decreased for the eighth successive working day, down another Yuan 31/tonne ($4.4/t) on day to Yuan 4,060/t including the VAT as of December 5, or a recent low since November 19, and spot construction steel trading continued to ease on Thursday amid the softening in demand, according to Mysteel’s daily price tracker.
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After Wednesday’s increases, Chinese iron ore prices for port inventories reversed down slightly on December 5, with Mysteel’s portside iron ore index decreasing by Yuan 3/wmt ($0.4/t) on day to Yuan 671/wmt FOT Qingdao including the 13% VAT. On Thursday too, the seaborne iron index stayed at $88.65/dmt CFR Qingdao, unchanged from yesterday.
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China’s imported iron ore prices for both port inventories and seaborne cargoes grew on December 4, though trading volume fell amid the moderate price strengthening.
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China’s national average HRB400 20mm dia rebar benchmark price fell for the sixth consecutive working days by another Yuan 14/tonne ($2/t) to Yuan 4,108/t including the 13% VAT as of November 3 and spot construction steel trading retreated after a small recovery on Monday.
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Mysteel’s 62% portside iron ore index rose Yuan 3/wmt ($0.4/wmt) on day to Yuan 665/wmt FOT Qingdao and including the 13% VAT on December 3, and the 62% seaborne iron ore index dropped $0.55/dmt on day at $88.1/dmt CFR Qingdao, as buyers focused more on immediately-available supplies towards the yearend.
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Chinese prices of imported iron ore in the seaborne market recovered on December 2, with Mysteel’s price index for 62% seaborne iron ore fines up $1.6/dmt on day at $88.65/dmt CFR Qingdao. The same day, the 62% portside iron ore fines price index stabilized at Yuan 662/wmt ($94/wmt) FOT Qingdao and including 13% VAT.
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Mysteel’s national average price for HRB400 20mm dia rebar decreased for the fourth day on November 29 though at a lower speed, down another Yuan 7/t on day to Yuan 4,152/t, while the price of Tangshan Q235 150mm square billet declined Yuan 20/tonne ($2.8/t) from November 29 to Yuan 3,440/t EXW as of December 1, both including the 13% VAT, and daily trading stayed at its normally low range for winter months.
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China’s markets for imported iron ore cooled on November 29, with Mysteel’s 62% portside iron ore index dropping by Yuan 2/wmt ($0.3/wmt) on day to reach Yuan 662/wmt FOT Qingdao and including the 13% VAT. Also on Friday, Mysteel’s price index for 62% seaborne iron ore fines dipped $0.75/dmt from Thursday to hit $87.05/dmt CFR Qingdao.
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After Wednesday’s falls Chinese iron ore prices for port inventories and seaborne cargoes reversed up slightly on November 28, with Mysteel’s portside iron ore index rising by Yuan 2/wmt ($0.28/wmt) to Yuan 664/wmt FOT Qingdao including 13% VAT. Also on Thursday, the seaborne iron ore index recovered by $0.9/dmt on day to reach $87.8/dmt CFR Qingdao.
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On November 27, China’s long steel prices softened for the second day with Mysteel’s national average HRB400 20mm dia rebar benchmark down Yuan 15/tonne ($2.1/t) on day and Mysteel’s Tangshan Q235 150mm square billet benchmark down another Yuan 10/t on day, and the daily trading volume ebbed for the second day too.
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Chinese prices of imported iron ore continued to drop on November 27, with Mysteel’s price index for 62% seaborne iron ore fines dipping another $1.45/dmt on day to hit $86.9/dmt CFR Qingdao. The same day, the 62% portside iron ore fines price index lost another Yuan 9/wmt ($1.3/wmt) on day to reach Yuan 662/wmt FOT Qingdao and including 13% VAT.
