-
China’s national average benchmark price for HRB 400 20mm dia rebar decreased further by another Yuan 24/tonne ($3.4/t) from last Friday to Yuan 3,623/t, including the 13% VAT as of March 30, according to Mysteel’s database. Trading volume also retreated slightly on the same day.
-
Mysteel’s Tangshan Q235 150mm square billet benchmark price, a key indicator of China’s steel market movement, slipped Yuan 50/tonne ($7.1/t) on week to Yuan 3,110/t EXW and including the 13% VAT as of March 27 after a short-lived recovery in the prior week, as re-rollers’ procurement enthusiasm had been dampened again amid thinning margins, market sources indicated.
-
Mysteel’s national average HRB400 20mm dia rebar benchmark price hovered at Yuan 3,650/tonne ($516.3/t) including the 13% VAT as of Thursday, nudging up Yuan 1/t on day. The benchmark has remained rangebound since mid-March, Mysteel Global noted.
-
Ordinary steel inventories held by Chinese traders declined further over the period of March 20-26, thanks to continuing firm downstream demand, new data indicated. However, traders still showed some hesitation about stepping up prices for now, Mysteel Global has learned from the market.
-
China’s national average benchmark price reversed up Yuan 8/tonne ($1.1/t) on day to Yuan 3,949/t, including the 13% VAT as of March 25, according to Mysteel’s database. Sales stabilised with better trading on the same day.
-
Mysteel’s national average price for HRB400 20mm rebar benchmark reversed down by Yuan 25/tonne ($3.5/t) from last Friday to reach Yuan 3,647/t including the 13% VAT as of March 23. Trading has slowed down and market sentiment has turned more cautious, Mysteel Global noted.
-
Chinese export steel prices softened further after Beijing announced increases to export tax rebates on some steel items from March 20, but export transactions did not improve much despite the price drops, export sources tell Mysteel Global. Global steel prices fell faster and the few buyers with interest turned to cheaper products, they explained.
-
Tangshan Q235 150mm square billet benchmark price, the bellwether of China’s steel market sentiment, continued to strengthen by another Yuan 30/tonne ($2.8/t) on week to Yuan 3,160/t EXW and including the 13% VAT as of March 20, and stocks at the traders in Tangshan had been down for the third consecutive week though supplies from the local steel mills had been on the rise, market sources indicated on Monday.
-
China’s domestic spot steel prices kept increasing over March 16-20, as the demand from the downstream industries had been steadily improving, while steel futures prices retreated on the market uncertainties amid a mix of positive and negative news, Mysteel Global noted.
Rebar: China’s national average HRB400 20mm dia rebar benchmark price
-
The Tangshan Q235 150mm square billet price, a barometer of the Chinese steel market vitality, reversed down Yuan 40/tonne ($5.6/t) from last Friday to Yuan 3,120/t EXW and including the 13% VAT as of March 22 amid remaining uncertainties in the domestic steel market despite the spiral-up in the spot trading.
-
China’s national average benchmark price for HRB400 20mm dia rebar reversed down Yuan 13/tonne ($1.8/t) on day to Yuan 3,664/t, including the 13% VAT, as of March 19, mainly impacted by the bearish rebar futures market, according to Mysteel’s daily price tracker.
-
Total inventories of the five major steel items held by Chinese traders finally entered de-stocking territory after steadily increasing for nearly three months, Mysteel Global has learned. And it was improving demand, not production cuts, that did it.
-
China’s shipbuilders saw their new vessel orders increase by 41.4% on year over January-February, according to the latest release by China Association of the National Shipbuilding Industry (CANSI) published on March 18. The leap in orders during this year’s first two months was mainly due to the low base for the same period last year, however.
-
Steel industry insiders in China responsible for domestic steel business responded rather coolly to Tuesday night’s announcement from the country’s Ministry of Finance that tax rebates for exports including steel products are to be increased, Mysteel Global has found. Some expressed reservations about whether larger rebates would contribute anything to boosting the domestic steel market.
-
China’s average price for HRB400 20mm dia rebar remained stable at Yuan 3,670/tonne ($524/t) including the 13% VAT as of March 17, according to Mysteel’s data. Long steel sales retreated on the same day as downstream users slowed down their pace of procurement after noting the sharp rise in price on Monday.
-
Chinese steel exporters are finding it increasingly hard to close deals with overseas buyers recently, market sources admit. Strong bearish sentiment exits in international steel markets as countries brace for slowing domestic economic growth, while in China the recovery in domestic sales has reduced the willingness of mills and traders to chase overseas business, Mysteel Global understands.
-
The benchmark price in Tangshan of Q235 150mm square billet, the weathervane of China’s steel market movement, strengthened by a total of Yuan 110/t ($15.7/t) over March 9-15 to an one-month high of Yuan 3,190/t EXW and including the 13% VAT as of March 15. Robust demand from local steel re-rollers and their downstream buyers was behind the rise, sources said.
-
China’s rebar price increased further and faster on March 16 to hit nearly one-month high, mainly thanks to better trading on the same day. Mysteel’s national average price for HRB400 20mm dia rebar gained Yuan 65/tonne ($9.3/t) on day to Yuan 3,670/t including the 13% VAT. Sales also climbed to a record of 3.5-month high.
-
Mysteel’s Tangshan Q235 150mm square billet benchmark price, bellwether of China’s steel market sentiment, increased a total of Yuan 60/tonne ($8.6/t) over the weekend to Yuan 3,190/t EXW and including the VAT as of March 15. It is the highest level in the recent month, as local demand reached a “peak level”, according to a Chinese market source.
-
As market had expected, both China’s auto sales and production slumped in February as the COVID-19 hit China’s economy and many industrial sectors hard, and the sales fell 79.1% on year and the production decreased 79.8% on year, the latest release from the China Association of Automobile Manufacturers (CAAM) on March 12 confirmed the dismal.
