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China’s iron prices for both port inventories and seaborne cargoes continued to fall on October 17, with Mysteel’s portside iron ore index decreasing by Yuan 18/wmt ($2.5/wmt) on day to hit a five-month low of Yuan 694/wmt FOT Qingdao and including the 13% VAT. On the same day, the seaborne iron ore index dipped by $0.8/dmt on day to refresh its six-week low of $85.85/dmt CFR Qingdao.
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Mysteel’s national average HRB400 20mm dia rebar benchmark fell for the second day on October 16, down another Yuan 17/tonne ($2.4/t) on day to Yuan 3,869/t including the 13% VAT, and the trading activity was slack on Wednesday with buyers hesitating to book tonnage amid a bearish outlook.
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China’s iron ore prices for both port inventories and seaborne cargoes both slumped to a six-week low on October 16, with Mysteel’s portside iron ore index losing another large Yuan 24/wmt ($3.4/wmt) on day to Yuan 712/wmt FOT Qingdao and including the 13% VAT, while the seaborne iron ore index reversed down by $5.05/dmt on day to $86.65/dmt CFR Qingdao. Both prices are the lowest since August 30.
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Mysteel’s national average price for HRB400 20mm dia rebar reversed down on October 15 by Yuan 18/tonne ($2.5/t) on day to Yuan 3,886/t including the 13% VAT, and the spot steel trading eased further amid the persistent market uncertainties.
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Chinese prices of imported iron ore for port inventories and seaborne cargoes diverged on October 15, with Mysteel’s portside iron ore index dipping to Yuan 736/wmt ($104.2/wmt) FOT Qingdao including 13% VAT, down Yuan 5/wmt on day and its lowest since September 3. However, on Tuesday, the seaborne iron ore index reversed up by $0.60/dmt on day to reach $91.70/dmt CFR Qingdao.
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China’s national average price for HRB400 20mm dia rebar maintained largely stable at Yuan 3,904/tonne ($550/t) including the 13% VAT as of October 14, up merely Yuan 4/t from October 12, a make-up working day after the National Day holiday, and the daily construction steel trading hovered at its threshold of around 200,000 tonnes/day on Monday.
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China’s iron ore prices for both port inventories and seaborne cargoes declined on October 14, with Mysteel’s portside iron ore index losing another Yuan 8/wmt ($1.1/wmt) on from October 12 to Yuan 741/wmt FOT Qingdao and including the 13% VAT, its lowest level since September 6. October 12 was a substitute working day in China, Mysteel notes. Also on Monday, the seaborne iron ore index also dipped by $1.55/dmt from October 12 to $91.10/dmt CFR Qingdao.
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China’s iron ore prices for both port inventories and seaborne cargoes declined on October 11, with Mysteel’s portside iron ore index decreasing by Yuan 5/wmt ($0.7/wmt) on day to Yuan 751/wmt FOT Qingdao and including the 13% VAT. On the same day, the seaborne iron ore index edged down by $1.15/dmt on day to reach $92.65/dmt CFR Qingdao, according to Mysteel’s database.
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China’s national average HRB 400 20mm rebar benchmark price decreased another Yuan 8/tonne ($1.1/t) on day to Yuan 3,915/t including the 13% VAT as of October 11, and trading also receded more together with the price softening.
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Mysteel’s 62% portside iron ore fines index edged up by Yuan 10/wmt ($1.4/t) on day to Yuan 756/wmt FOT Qingdao and including the 13% VAT on October 10. The same day, the 62% seaborne index rose by $3.55/dmt from Wednesday to $93.80/dmt CFR Qingdao.
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Both the billet and rebar prices in China reversed down on October 9, as the buying interest in the domestic steel market slowed down and market sentiment was dampened on noting the swelling steel stocks both at the traders and steel mills over the National Day holiday on October 1-7, Mysteel Global noted.
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Chinese iron ore prices for both port inventories and seaborne cargoes slumped on October 9, with Mysteel’s portside iron ore index losing Yuan 18/wmt ($2.52/wmt) on day to Yuan 746/wmt FOT Qingdao including 13% VAT, the largest daily fall since August 21. Also on Wednesday, the seaborne iron ore index lost $3.7/dmt on day to reach $90.25/dmt CFR Qingdao, the largest drop since seaborne declined by $3.8/dmt on September 24.
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China’s national average price for HRB 400 20mm dia rebar hit its nearly two-month high of Yuan 3,929/tonne ($553/t) and including the 13% VAT on October 8, the first working day after China’s National Day holiday over October 1-7, or up Yuan 8/t from September 30, and spot sales were robust.
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Mysteel’s portside iron ore index reached Yuan 764/wmt ($107.2/wmt) FOT Qingdao and including the 13% VAT on October 8, higher by Yuan 8/wmt from September 30, the last working day for the portside market before China’s National Day holiday over October 1-7. Business only resumed on Tuesday. Also Tuesday, the seaborne iron ore index rose $0.15/dmt from Monday to $93.95/dmt CFR Qingdao. Seaborne business was uninterrupted by the holidays.
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China’s iron ore prices for port inventories and seaborne cargoes both rose on September 30, as many market participants were bullish about price trends after the National Day holiday week ends.
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Imported iron ore prices for port inventories and seaborne cargoes in China both increased on September 27, as market participants were bullish about prices once business restarts on October 8 following next week’s National Day holidays.
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China’s national average price for HRB400 20mm dia rebar maintained largely stable at Yuan 3,887/tonne ($545/t) including the 13% VAT as of September 26, or up merely Yuan 1/t on day, and at the same time, the daily construction steel trading maintained at its threshold of around 200,000 tonnes for a peak consumption season.
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China’s iron ore prices for port inventories and seaborne cargoes diverged on September 26, with Mysteel’s 62% Australian iron ore fines price index remaining stable at Yuan 742/wmt ($104.05/wmt) on day FOT Qingdao, including the 13% VAT.
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China’s national average price for HRB 400 20mm dia rebar remained largely stable on September 25 at Yuan 3,886/tonne ($547.3/t) including the 13% VAT, edging down by a mere Yuan 2/t on day.
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China’s imported iron ore prices displayed more of Tuesday’s weakness on September 25, with trading activity staying sluggish and overall market sentiment remaining low.
