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China’s price of HRB400 20mm dia rebar increased for a fifth successive working day on Thursday, rising by another Yuan 22/tonne ($3.1/t) on day to Yuan 3,806/t including the 13% VAT, mainly thanks to the decline in production and a slowdown in stocks accumulation, Mysteel Global noted.
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Mysteel’s PORTDEX 62% Fe Australian Fines slid by Yuan 4/wmt ($0.6/wmt) on day to reach Yuan 819/wmt FOT Qingdao and including the 13% VAT on July 9. However, the SEADEX 62% Fe Australian Fines index firmed by $0.2/dmt on day to $106.85/dmt CFR Qingdao on Thursday.
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Mysteel’s PORTDEX 62% Fe Australian Fines price increased for a fifth working day on July 8, rising by another Yuan 16/wmt ($2.3/wmt) on day to reach Yuan 823/wmt FOT Qingdao and including the 13% VAT, a 11-month high since August 2 2019. On Wednesday too, the SEADEX 62% Fe Australian Fines price increased by $3.5/dmt on day to also hit an 11-month high of $106.7/dmt CFR Qingdao.
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China’s national HRB400 20mm dia rebar price assessed by Mysteel rose further by Yuan 6/tonne ($0.9/t) on day to Yuan 3,763/t including 13% VAT as of July 7. The rising rebar price was driven by the improved trading in the spot market.
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China’s prices for imported iron ore gained more ground on July 7, with Mysteel’s PORTDEX 62% Fe Australian Fines up by Yuan 12/wmt ($1.7/wmt) on day at Yuan 807/wmt FOT Qingdao and including the 13% VAT, a new high since June 16. On the same day, the SEADEX 62% Fe Australian Fines price also rallied by $1.8/dmt on day to reach $103.2/dmt CFR Qingdao.
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China’s prices for imported iron ore for both port inventories and seaborne cargoes increased on July 6, with Mysteel’s PORTDEX 62% Fe Australian fines edging up by Yuan 5/wmt ($0.7/wmt) from last Friday to reach Yuan 795/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also increased by $1/dmt from last Friday to $101.4/dmt CFR Qingdao.
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China’s national HRB400 20mm dia rebar price assessed by Mysteel reversed up last Friday after seven consecutive days of decline, although it was a slight increase of Yuan 5/tonne ($0.7/t) on day to Yuan 3,751/t including 13% VAT as of July 3. Steel trading rebounded to nearly a one-month high, strengthening the rebar price.
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China’s prices for imported iron ore recorded further gains on July 3, with Mysteel’s PORTDEX 62% Fe Australian Fines up by Yuan 3/wmt ($0.4/wmt) on day at Yuan 790/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also rallied by $0.65/dmt on day to reach $100.4/dmt CFR Qingdao.
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China’s imported iron ore prices remained stable on July 2, with Mysteel’s PORTDEX 62% Fe Australian Fines nudging up by a tiny Yuan 1/wmt ($0.1/wmt) on day to Yuan 787/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines price also increased by $0.3/dmt on day to $99.75/dmt CFR Qingdao.
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China’s price of HRB400 20mm dia rebar declined further on July 1 by Yuan 7/tonne ($1/t) on day to Yuan 3,749/t including the 13% VAT, as the transactions in spot market slowed down, Mysteel’s data showed.
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Mysteel’s PORTDEX 62% Australian Fines dropped by Yuan 3/wmt ($0.4/wmt) on day to Yuan 786/wmt FOT Qingdao and including the 13% VAT on July 1. On Wednesday, the SEADEX 62% Australian Fines softened too by $0.6/dmt on day to $99.45/dmt CFR Qingdao.
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China’s imported iron ore prices recovered on June 30, with Mysteel’s PORTDEX 62% Fe Australian Fines rebounding by Yuan 5/wmt ($0.7/wmt) on day to Yuan 789/wmt FOT Qingdao and including the 13% VAT. On the same day, SEADEX 62% Fe Australian Fines price also edged up by $0.6/dmt on day to $100.05/dmt CFR Qingdao.
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China’s national price of HRB400 20mm dia rebar declined further and at a faster pace on Monday, down Yuan 19/tonne ($2.7/t) from last Friday to Yuan 3,764/t including the 13% VAT as of June 29. Steel trading retreated markedly amid continuous rainfalls in South and East China.
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Mysteel’s PORTDEX 62% Fe Australian fines price plunged by Yuan 19/wmt ($2.7/wmt) on day to Yuan 784/wmt FOT Qingdao and including the 13% VAT on June 29. Sunday was a working day in China after the Dragon Boat Festival holiday over June 25-27. Also on Monday, the SEADEX 62% Fe Australian Fines price dipped by $3.9/dmt on day to reach $99.45/dmt CFR Qingdao. The two prices returned to levels seen in early June.
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China’s prices for imported iron ore for port inventories and seaborne cargoes increased on June 24, with Mysteel’s PORTDEX 62% Fe Australian fines rising by another Yuan 10/wmt ($1.4/wmt) on day to Yuan 803/wmt FOT Qingdao and including the 13% VAT. Also on Wednesday, the last day before China’s three-day public holiday, the SEADEX 62% Fe Australian Fines price recovered by $2.25/dmt on day to reach $103.35/dmt CFR Qingdao.
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China’s national HRB400 20mm dia rebar price reversed down by Yuan 9/tonne ($1.3/t) on day to Yuan 3,793/t including 13% VAT as of June 23, losing losing all the gains over June 19-22, according to Mysteel’s assessment, and the daily trading volume remained largely stable though traders admitted the growing difficulty in receiving payments from the end-users.
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China’s prices for imported iron diverged on June 23, with Mysteel’s PORTDEX 62% Fe Australian fines recovering by Yuan 7/wmt ($1/wmt) on day to Yuan 793/wmt FOT Qingdao and including the 13% VAT. However, on the same day, the SEADEX 62% Fe Australian Fines price lost a tiny $0.2/dmt on day to reach $101.1/dmt CFR Qingdao.
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China’s domestic rebar price remained rangebound of late amid softening demand and strong support from the high raw material prices. China’s price of HRB400 20mm dia rebar assessed by Mysteel increase further by Yuan 6/tonne ($0.8/t) from last Friday to Yuan 3,802/t including the 13% VAT as of June 22.
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Mysteel’s PORTDEX 62% Fe Australian Fines declined by Yuan 15/wmt ($2.1/wmt) on day to Yuan 786/wmt FOT Qingdao and including the 13% VAT on June 22, hitting a two-week low. The SEADEX 62% Fe Australian Fines softened by $1.35/dmt on day to $101.3/dmt the same day, also reaching a two-week low.
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China’s imported iron ore prices inched up slightly on June 19, with Mysteel’s PORTDEX 62% Fe Australian Fines price recovering by Yuan 3/dmt ($0.4/wmt) on day to Yuan 801/wmt FOT Qingdao and including the 13% VAT. On the same day, the SEADEX 62% Fe Australian Fines index also rebounded by $0.25/dmt on day to $102.65/dmt CFR Qingdao.
