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Prices of imported iron ore in China's portside market stayed unchanged on October 20 while those of seaborne cargoes edged down, with trading in both markets cooling.
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On October 19, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment dipped for the seventh working day though the pace slowed with the on-day decline at just Yuan 4/tonne ($0.6/t), while spot sales of construction steel including rebar gained for the second working day by 5.1% on day, as demand showed signs of modest pick-up.
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China's imported iron ore prices dropped on October 19, while trading activities firmed moderately.
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On October 18, Mysteel's assessments showed that China's national price of HRB400E 20mm dia rebar slipped for the sixth working day by another Yuan 57/tonne ($8.9/t) from last Friday, and spot sales of construction steel including rebar still hovered low despite a recovery of 2% from last Friday, showing market trading enthusiasm stayed tepid.
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Chinese prices of imported iron ore for both port inventories and seaborne cargoes dipped on October 18 while ore trading was generally flat.
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Both the Tangshan Q235 150mm square billet price and China’s national price of HRB400E 20mm dia rebar fell in Mysteel’s latest assessment, with the former down Yuan 50/tonne ($7.8/t) on October 17 against last Friday, and the latter down Yuan 2/t on day on October 15, both due to poor trading, according to market sources.
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Chinese prices of imported iron ore in portside markets gained on October 15, while prices for seaborne cargoes decreased. Trading in the seaborne market also cooled.
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On October 14, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the fourth working day though at a slower pace of Yuan 16/tonne ($2.5/t) on day, while spot sales of construction steel including rebar grew for the second day by 9.6% on day, indicating more buying with prices now below Yuan 6,000/t threshold again.
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The price of China's imported iron ore for portside inventories dipped marginally on October 14, while price for seaborne cargoes rose, and trading in the seaborne market was active.
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On October 13, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the third working day by Yuan 77/tonne ($12/t) on day, though spot sales of construction steel including rebar rebounded after three working days of declines, up by 35.4% on day, indicating the market sentiment had yet been settled.
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China’s imported iron ore market saw prices for port inventories and seaborne cargoes dip for the second working day on Wednesday, with trading in both markets thin.
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On October 12, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the second working day by Yuan 59/tonne ($9.2/t) on day, and spot sales of construction steel including rebar fell to its seven-month low after having dropped for the third working day by 26.5% on day due to recent surges in prices and the anticipation on weakening demand in winter.
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China's imported iron ore prices for both the seaborne and port stocks markets softened on October 12, bringing a halt to the steady increases that followed the National Day holiday over October 1-7, with trading activities also weakening today.
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On October 11, China’s national price of HRB400E dia rebar slipped by Yuan 4/tonne ($0.6/t) on day to Yuan 6,035/t and including the 13% VAT, according to Mysteel’s assessment, bringing an end to the steady rise seen over the prior six working days.
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China's imported iron ore prices for both port stocks and seaborne cargoes increased on October 11, and trading in both markets improved too.
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On October 9, a make-up working day in China after the National Day holiday, the country's national price of HRB400E 20mm dia rebar, under Mysteel's assessment, refreshed its new high since May 17 to reach Yuan 6,039/tonne ($937/t) and including the 13% VAT, or up by Yuan 16/t from last Friday and increasing for a sixth working day.
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Many Chinese steelmakers bought iron ore tonnage in the spot market on October 8, the first business day after the National Day holiday over October 1-7, with ore prices also rallying.
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As of October 7, Tangshan Q235 150mm square billet price, the barometer of China’s spot steel market sentiment, touched its 4.5-month high of Yuan 5,290/tonne ($821/t) EXW and including the VAT after gaining Yuan 80/t from September 30 despite that the country was on National Day holiday over October 1-7, Mysteel's assessment showed.
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The price for port stocks and seaborne cargoes of imported iron ore in China rose further on September 30, the last trading day ahead of the National Day holiday over October 1-7, with subdued trading across both markets.
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On September 29, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment hit the highest since May 17, or up for the third working day by Yuan 45/tonne ($7/t), though spot trading of construction steel accelerated the pace in decline, down for the second day by 16% on day mainly as the trading enthusiasm had been dampened by the price rises.
