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China’s prices of imported iron ore for both port stocks and seaborne markets reversed down on Monday amid weakening sentiment and dull buying interest from mills.
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Mysteel’s Tangshan Q235 150mm square billet benchmark price, a barometer of China’s steel market, fell further by Yuan 20/tonne ($2.8/t) from last Friday to a two-month low of Yuan 3,420/t EXW and including 13% VAT as of August 18.
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China’s prices of imported iron ore for both the port stocks and seaborne markets increased slightly on Friday, with the volume of ore traded stable.
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China’s national average price for HRB400 20mm dia rebar reversed down on August 15 after a two-day rebound, dipping by Yuan 6/tonne ($0.9/t) on day to Yuan 3,842/t including the 13% VAT even though the steel inventories at the traders showed signs of decreases.
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China’s imported iron ore prices for the port stocks market held steady on August 15 while the seaborne market retreated amid weakening market sentiment.
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China’s imported iron ore prices for both the seaborne and port stocks markets increased on August 14 thanks to firming market sentiment.
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Low buying interest led China’s prices for imported iron ore for seaborne cargoes to reverse down on Tuesday to below $90 and a four-and-a half-month low. The port stocks market continued to soften on weak sentiment.
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China’s steel trading, especially that in East and South China, rebounded substantially on Monday when China’s domestic long steel prices continued to decline and the super typhoon Lekima, after thrashing the regions over the weekend, moved northward.
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China’s imported iron ore prices for port inventories declined for a ninth day straight on Monday amid the weakening port stocks price and low buying interest from mills. The seaborne price remained relatively stable.
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China’s imported iron ore prices lost more ground on Friday, with the price for seaborne cargoes losing steam again and resuming its downward slide after the previous day’s short-lived rise, while the port inventories price declined for an eighth day straight.
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China’s seaborne iron ore price took a breath on August 8 after six days of continuing declines, while port inventories price continued with the seventh-day decline but down merely Yuan 2/wmt ($0.3/wmt) from Wednesday, and the buying interest for both the seaborne cargoes and port inventories revived modestly too.
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China’s imported iron ore prices for both port stocks and seaborne cargoes declined for a sixth day on August 7. Market sentiment stayed pessimistic and buying interest from mills subsided further. However, the pace of decline picked up against market anticipation.
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As of August 6, China’s national HRB400 20mm dia rebar benchmark price fell by another Yuan 28/tonne ($4/t) on day to Yuan 3,935/t and the Tangshan Q235 150mm square billet price down Yuan 20/t on day to Yuan 3,540/t EXW, both prices, including the 13% VAT, had been the fourth-day decline when the market sentiment stayed pessimistic.
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China’s imported iron ore prices for both seaborne and port stocks markets continued declining Tuesday as market sentiment weakened further. However, more inquiries for ore from domestic steelmakers and from ore traders intending to speculate led more deals to be concluded.
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China’s steel prices stayed on the downtrend on August 5 as demand showed no signs of revival and weather remained uncooperative, while production stayed high despite that some electric-arc-furnace mills reduced output amid lossmaking.
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China’s imported iron ore prices for both the port and seaborne markets dropped further on Monday amid escalating Sino-US tension.
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China’s steel prices especially those for long have been softening amid the remaining lacklustre demand in the adverse summer weather.
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China’s imported iron ore prices for both the port and seaborne markets lost more ground Friday on concerns about imported ore demand.
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China’s imported iron ore prices for both the port and seaborne markets declined further on Thursday amid renewed concerns about steel demand.
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China’s imported iron ore prices for both the port and seaborne markets declined on Wednesday amid scant buying interest from mills.
