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Prices for imported iron ore in China’s portside and seaborne markets remained largely stable on September 25, with Mysteel’s PORTDEX 62% Fe Australian Fines index staying unchanged at Yuan 896/wmt ($171.8/wmt) on FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price nudged up by a tiny $0.15/dmt on day to reach $115.9/dmt CFR Qingdao.
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China’s national price of HRB400 20mm dia rebar continued to soften for the eighth consecutive working days. It reached a nearly three-month low of Yuan 3,760/tonne ($550.5/t) including the 13% VAT as of September 24, down another Yuan 4/t on day or a total of Yuan 98/t so far in September.
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Prices for imported iron ore in China’s portside and seaborne cargo markets moved in opposite directions on September 24, with Mysteel’s PORTDEX 62% Fe Australian Fines index declining by a slight Yuan 2/wmt ($0.3/wmt) on day to reach Yuan 896/wmt FOT Qingdao and including the 13% VAT. However, the SEADEX 62% Fe Australian Fines recovered by $1.25/dmt on day to reach $115.75/dmt CFR Qingdao.
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China’s domestic rebar prices softened amid stability of late as the market sentiment stayed cautious. Transactions in the physical market also weakened amid prevalent market pessimism, Mysteel Global noted.
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Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines dropped by Yuan 12/wmt ($1.8/wmt) on day to Yuan 898/wmt FOT Qingdao and including the 13% VAT on September 23, or hitting the low since August 3. On Wednesday, the SEADEX 62% Fe Australian Iron Ore Fines declined by $2.2/dmt on day to $114.5/dmt CFR Qingdao, hitting a low since last month.
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China’s national average price of HRB400 20mm dia rebar assessed by Mysteel continued to weaken for the sixth working day on Tuesday, down another Yuan 12/tonne ($1.8/t) on day to Yuan 3,768/t including the 13% VAT as of September 22. Steel trade picked up slightly after the recent continuous price drops.
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Mysteel’s PORTDEX 62% Fe Australian Iron Ore index slid by Yuan 6/wmt ($0.9/wmt) on day to Yuan 910/wmt FOT Qingdao and including the 13% VAT on September 22 to reach a 1.5-month low. On Tuesday, the SEADEX 62% Fe Australian Iron Ore price declined by $2.85/dmt on day to also reach a 1.5-month low, settling at $116.7/dmt CFR Qingdao.
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China’s national average price of HRB400 20mm dia rebar assessed by Mysteel, an indicator of China’s steel market dynamics, declined by another Yuan 15/tonne ($2.2/t) from last Friday to Yuan 3,780/t including the 13% VAT as of September 21. The price had softened for five working days in a row and market sentiment deteriorated as steel demand had remained weak.
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Prices for imported iron ore in China’s portside and seaborne cargo markets softened on September 21, with Mysteel’s PORTDEX 62% Fe Australian Fines index decreasing by Yuan 16/wmt ($2.4/wmt) from last Friday to Yuan 916/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also dipped by $5.1/dmt on day to $119.55/dmt CFR Qingdao.
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Prices for imported iron ore in China’s portside and seaborne cargo markets rebounded after a three-day dip on September 18, with Mysteel’s PORTDEX 62% Fe Australian Fines index up by Yuan 5/wmt ($0.7/wmt) on day to reach Yuan 932/wmt FOT Qingdao and including the 13% VAT. Similarly, the SEADEX 62% Fe Australian Fines price also climbed by $3.1/dmt on day to reach $124.65/dmt CFR Qingdao.
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China’s national average HRB400 20mm dia rebar price slipped for the third day as of September 17, down another Yuan 10/tonne ($1.5/t) on day to Yuan 3,796/t including the 13% VAT, and the slight recovery in trading and depletion of inventories seemed to have failed to ease the current pessimism, Mysteel Global understands.
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Prices for imported iron ore in China’s portside and seaborne cargo markets lost more ground on September 17, with Mysteel’s PORTDEX 62% Fe Australian Fines index easing by another Yuan 3/wmt ($0.4/wmt) on day to reach Yuan 927/wmt FOT Qingdao and including the 13% VAT. Similarly, the SEADEX 62% Fe Australian Fines price also lost $2.55/dmt on day to reach $121.55/dmt CFR Qingdao, a three-week low.
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Prices for imported iron ore in China’s portside and seaborne cargo markets softened on September 16, with Mysteel’s PORTDEX 62% Fe Australian Fines index decreasing by Yuan 21/wmt ($3/wmt) on day to Yuan 930/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEASEX 62% Fe Australian Fines price slipped to $124.1/dmt CFR Qingdao, down by a large $5.3/dmt on day – the largest single-day fall since March 23, according to Mysteel’s data.
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Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines index dropped by Yuan 6/wmt ($0.9/wmt) on day to Yuan 951/wmt FOT Qingdao and including the 13% VAT on September 15. The SEADEX 62% Fe Australian Iron Ore Fines price declined too by $0.85/dmt on day to $129.4/dmt CFR Qingdao on Tuesday.
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China’s price of HRB400 20mm rebar inched up Yuan 5/tonne ($0.7/t) from September 11 to reach Yuan 3,829/t including the 13% VAT as of September 14, Mysteel’s data showed. Actual transactions in the spot market reversed down slightly on Monday.
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China’s prices for imported iron ore continued to trend upward on September 14, with Mysteel’s PORTDEX 62% Fe Australian Fines increasing by Yuan 7/wmt ($1/wmt) from last Friday to Yuan 957/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines index also rose by $1.25/dmt from Friday to $130.25/dmt CFR Qingdao.
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Prices for imported iron ore in China’s portside and seaborne cargo markets rebounded on September 11, with Mysteel’s PORTDEX 62% Fe Australian Fines index rising by Yuan 4/wmt ($0.6/wmt) on day to reach Yuan 950/wmt FOT Qingdao and including the 13% VAT after a two-day dip, while the SEADEX 62% Fe Australian Fines price recovered by $3.1/dmt on day to reach $129/dmt CFR Qingdao after a single-day dip on Thursday.
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Prices for imported iron ore in China’s portside and seaborne markets dipped further on September 10, with Mysteel’s PORTDEX 62% Fe Australian Fines index decreasing by another Yuan 8/wmt ($1.2/wmt) on day to Yuan 946/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also eased by $1.1/dmt on day to reach $125.9/dmt CFR Qingdao.
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Mysteel’s PORTDEX 62% Fe Australian Iron Ore declined by Yuan 12/wmt ($1.8/wmt) on day to reach Yuan 954/wmt FOT Qingdao and including the 13% VAT on September 9, ending two successive days of increases. Also on Wednesday, Mysteel’s SEADEX 62% Australian Iron Ore Fines index dropped by $2.05/dmt on day to $127/dmt CFR Qingdao.
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Mysteel’s PORTDEX 62% Fe Australian Iron Ore Fines index increased by Yuan 5/wmt ($0.7/wmt) on day to Yuan 966/wmt FOT Qingdao and including the 13% VAT on September 8, while the SEADEX 62% Fe Australian Iron Ore fines price declined by $0.55/dmt on day to $129.05/dmt CFR Qingdao the same day.
