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Mysteel’s 62% seaborne iron ore fines index increased by $1.7/dmt on day to $115.45/dmt CFR Qingdao on June 26. Also on Wednesday, the 62% portside iron ore fines index grew by Yuan 3/wmt ($0.4/wmt) on day to Yuan 851/wmt FOT Qingdao and including the 13% VAT.
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China’s steel prices, including rebar and Tangshan billet, continued with the increase as the market is still under the strong influence of the latest round of restriction among the Tangshan steel mills starting as early as on June 23 on some facilities and more concrete information has been circulated in the market.
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Chinese prices of imported iron ore lost more ground on June 25, with Mysteel’s 62% Australian iron ore fines price index for port stocks down by Yuan 7/wmt ($1/wmt) on day to reach Yuan 848/wmt FOT Qingdao including 13% VAT. The same day, the price of seaborne iron ore cargoes with the same grade and origin also fell by $2.9/dmt on day to reach $113.75/dmt CFR Qingdao.
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China’s national rebar prices and the Tangshan billet price, both being the barometers of the Chinese steel market sentiment, gained substantially on June 24, in response to Tangshan’s new round and stricter curbing on the local mills’ sintering, blast furnaces, converters, and lime kilns until end of July to battle against local air pollution.
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Chinese prices of imported iron ore continued to drop on June 24, with Mysteel’s price index for 62% seaborne iron ore fines dipping $0.4/dmt on day to hit $116.65/dmt CFR Qingdao. The same day, the 62% portside iron ore fines price index also lost another Yuan 4/wmt ($0.58/wmt) on day to reach Yuan 855/wmt FOT Qingdao and including 13% VAT.
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The Tangshan Q235 150mm billet benchmark price, a key indicator of China’s steel market sentiment especially for North China, gained strongly by Yuan 70/tonne ($10.2/t) over the weekend toYuan 3,530/t EXW and including the 13% VAT as of June 23 mainly on the latest news that the local authorities have kick started a new round of curbing on local steel mills on air quality concerns.
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Chinese prices of imported iron ore reversed down on June 21, with Mysteel’s price index for 62% seaborne iron ore fines dipping $0.35/dmt on day to hit $117.05/dmt CFR Qingdao. The same day, the 62% portside iron ore fines price index also lost another Yuan 6/wmt ($0.9/wmt) on day to reach Yuan 859/wmt FOT Qingdao and including 13% VAT.
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Mysteel’s 62% seaborne iron ore fines index jumped for a third straight day on June 20 to refresh its five-year high, reaching $117.4/dmt CFR Qingdao, higher by another $3/dmt on day. Also on Thursday, the portside iron ore fines index livened up the 64-month high to settle at Yuan 865/wmt ($125.4/wmt) FOT Qingdao and including the 13% VAT – an on-day rise of Yuan 16/wmt.
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China’s rebar price reversed up on June 19, though trading volume subsided, as suppliers were attempting to hold onto prices given the further incline in production cost, Mysteel Global learned.
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Mysteel’s 62% seaborne iron ore fines index surged by $2.8/dmt on day to $114.4/dmt CFR Qingdao on June 19, refreshing the five-year high. On Wednesday, the portside iron ore fines index also increased by Yuan 22/wmt ($3.2/wmt) on day to Yuan 849/wmt FOT Qingdao and a new 64-month high.
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China’s domestic steel market displayed further signs of weakening on Tuesday, with the national average HRB 400 20mm dia rebar benchmark price slid down further by Yuan 17/tonne ($2.5/t) on day to Yuan 3,969/t including the 13% VAT as of June 18, though the decline was milder against the Yuan 50/t loss on Monday, or the steepest single-day loss in six months.
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Chinese prices of imported iron ore reversed up on June 18, with Mysteel’s 62% Australian iron ore fines price index for port stocks rebounding by Yuan 11/wmt ($1.6/wmt) on day to reach Yuan 827/wmt FOT Qingdao including 13% VAT. The same day, the price of seaborne iron ore cargoes with the same grade and origin reached a new high, gaining $4.1/dmt on day to reach $111.6/dmt CFR Qingdao.
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Mysteel’s national average HRB 400 20mm dia rebar benchmark price plummeted by Yuan 50/tonne ($7.2/t) on Monday to Yuan 3,986/t including the 13% VAT, falling below the threshold of Yuan 4,000/t and marking the largest single-day decline in six months. Many market insiders admitted the plunge was “beyond expectations”.
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Chinese prices of imported iron ore dropped on June 17, with Mysteel’s price index for 62% seaborne iron ore fines dipping by another $2.05/dmt on day to hit $107.5/dmt CFR Qingdao. Also, the 62% portside iron ore fines price index reversed down by Yuan 10/wmt ($1.4/wmt) on day to reach Yuan 816/wmt FOT Qingdao and including 13% VAT.
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Chinese prices of imported iron ore diverged on June 14, with Mysteel’s 62% Australian iron ore fines price index for port stocks soaring by another Yuan 12/wmt ($1.73/wmt) on day to reach Yuan 826/wmt FOT Qingdao including 13% VAT. On the other hand, the price of seaborne iron ore cargoes with the same grade and origin remained largely stable, dipping by a mere $0.6/dmt on day to reach $109.55/dmt CFR Qingdao.
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Mysteel’s national average price for HRB400 20mm dia rebar reversed down Yuan 17/tonne ($2.5/t) on day to Yuan 4,044/t including the 13% VAT as of June 13, and the trading enthusiasm stayed sluggish despite a minor recovery.
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Chinese prices of imported iron ore refreshed their five-year high on June 13, with Mysteel’s price index for 62% seaborne iron ore fines reversing up by a hefty $4.2/dmt on day to hit $110.15/dmt CFR Qingdao. Also, the 62% portside iron ore fines price index gained another Yuan 17/wmt ($2.5/wmt) on day to reach Yuan 814/wmt FOT Qingdao and including 13% VAT.
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Mysteel’s price index for the 62% portside iron ore fines strengthened further on June 12, up by another Yuan 5/wmt ($0.7/wmt) on day to reach Yuan 797/wmt FOT Qingdao and including 13% VAT to refresh its five-year high. On the other hand, the price for 62% seaborne iron ore fines reversed down by a tiny $0.1/dmt on day to $105.95/dmt CFR Qingdao.
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Mysteel’s national HRB 400 20mm dia rebar benchmark price rebounded on Tuesday after two working days of declines to rise by Yuan 12/tonne ($17.4/t) on day to Yuan 4,058/t including the 13% VAT. Mysteel’s Tangshan Q235 150mm square billet also increased by Yuan 30/t on day to Yuan 3,510/t EXW and including the VAT.
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Mysteel’s 62% seaborne iron ore fines index jumped $5.75/dmt on day to reach $106.05/dmt CFR Qingdao on June 11. The same day, Mysteel’s 62% portside iron ore fines index also increased by Yuan 24/wmt ($3.5/wmt) on day to Yuan 792/wmt FOT Qingdao and including the 13% VAT to refresh its five-year high.
