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China’s domestic steel prices, especially long steel, slid at a breakneck speed on November 20 with Mysteel’s Tangshan Q235 150mm square billet price slumping to a seven-month low of Yuan 3,450/tonne EXW with a Yuan 130/tonne ($4.3/t) in a single day, and the HRB 400 20mm dia rebar price in Shanghai also fell Yuan 100/t day on day to Yuan 4,150/t despite the demand in East China should have been better than in North China. Both prices include the 16% VAT.
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The price of carbon steel billet in North China’s Tangshan fluctuated over November 12-16, with Mysteel’s daily price of Q235 150*150mm billet reaching Yuan 3,640/tonne ($528/t) EXW and including 16% VAT as of last Friday. The price had lost a total of Yuan 160/t on week to reach a 4-month low, Mysteel notes.
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The price of Q235 billet in Tangshan in North China’s Hebei province, Chinese steel’s bellwether price, continued to soften over the weekend, losing a large Yuan 90/tonne ($13/t) from last Friday’s Yuan 3,640/t to reach Yuan 3,550/t EXW and including the 16% VAT as of November 18.
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Trading volumes for rebars in most Chinese markets showed notable declines on Thursday, weighing down dealer prices again. Mysteel’s national average price of HRB 400 20mm dia rebar continued its uninterrupted run of declines yesterday to reach Yuan 4,546/t ($653/t) including the 16% VAT, down by another Yuan 1/t on day and lower by Yuan 182/tonne since November 2.
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Chinese steel prices continued to fall on Wednesday, but the pace of the decline eased, with Mysteel’s HRB 400 20mm dia rebar benchmark price dipping only Yuan 7/tonne ($1/t) on day to Yuan 4,547/t including the 16% VAT – much slower than the day-on-day tumble of Yuan 20/t on Tuesday.
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The market for carbon steel billet in Tangshan, the key pointer to Chinese steel-market trends, weakened over the November 5-9 week, with Mysteel’s Q235 150*150mm billet benchmark price slumping Yuan 100/tonne ($14.4/t) on week to Yuan 3,800/t EXW and including the 16% VAT as of November 9.
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Rebar prices in China sharply decreased on Monday, weighed down by the billet price plunge the same day, which undermined market sentiment and stilled trading activity. Mysteel’s national average price for HRB400 20mm dia rebar declined by Yuan 66/tonne ($9.5/t) from last Friday to reach Yuan 4,574/t including the 16% VAT as of November 12.
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The bellwether price of Chinese steel, that of Q235 billet in Hebei’s Tangshan, continued to weaken over the weekend, losing a large Yuan 140/tonne ($20.1/t) from last Friday’s Yuan 3,800/t to reach Yuan 3,660/t EXW and including the 16% VAT as of November 11. The drop was much larger than Friday’s on-day decrease of Yuan 20/t from Thursday, Mysteel notes.
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Rebar prices in most areas of China continued to retreat but at a slower pace on Thursday, with Mysteel’s national average benchmark price for HRB 400 20mm rebar dropping to Yuan 4,642/tonne ($667/t) including the 16% VAT, down by another Yuan 22/t on day and by Yuan 86/t since the steady decline began on November 2.
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The bellwether price of Chinese steel, Q235 billet price in Hebei’s Tangshan, continued weakening Tuesday, losing Yuan 40/tonne ($5.8/t) on day to Yuan 3,850/t EXW and including the 16% VAT on November 6.
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The market for billet in North China’s Tangshan softened over the week of October 29-November 2, with Mysteel’s Q235 150*150mm Tangshan billet benchmark price slumping Yuan 100/tonne ($14.5/t) on week to Yuan 3,900/t EXW and including the 16% VAT as of November 2, ending the strong upward momentum that had lasted for nearly a month.
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The market for billet in North China’s Tangshan, the bellwether of the Chinese steel market, tried for a price rise over the weekend, with local steel mills shoring up the Q235 billet price by Yuan 10/tonne ($1.5/t) to Yuan 3,910/t EXW and including the 16% VAT as of November 4, after the market for the semi had slipped a large Yuan 50/t last Friday.
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Both China’s rebar price and construction steel trading took a pause on November 1 after a rather busy period in the past two weeks, with Mysteel’s national average price for HRB400 20mm dia rebar remaining unchanged over the day at Yuan 4,728/tonne ($683.2/t) including the 16% VAT, and Mysteel’s daily trading volume of construction steel including rebar and wire rod inched up 0.3% on day to 170,174 tonnes on Thursday, still a relatively low level.
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Mysteel’s national average HRB 400 20mm dia rebar benchmark price shot up to a new year’s high of Yuan 4,728 ($678/t) including 16% VAT on October 31, or up another Yuan 2/t on day or up Yuan 88/tonne since October 19 in the past few days of consistent climb-ups, but the buying enthusiasm in the spot market waned on the growing market concern on the sustainability of the price surge, and Mysteel’s daily monitor of construction steel sales including rebar and wire rod among 237 traders posted a decline by 12% on day to 169,600 tonnes/day on Wednesday.
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Mysteel’s benchmark price of Q235 150*150mm billet in North China’s Tangshan, the barometer of China’s steel market, climbed steadily over October 22-25 to hit a new high of Yuan 4,000/tonne ($577.2/t) EXW and including the 16% VAT on October 25. With the increase in prices the enthusiasm for procuring semis among steel re-rollers has gradually dwindled, market sources indicated.
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China’s domestic average price for HRB400 20mm dia rebar shot up to a new yearly high of Yuan 4,725/t including the 16% VAT as of October 29 when the price moved for the sixth consecutive working day, though the day-on-day gain was merely Yuan 5/tonne ($0.7/t) from last Friday, but the trading enthusiasm in the market waned on the continuing climb-up of the price.
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Mysteel’s Tangshan Q235 150mm square billet benchmark price reversed down Yuan 20/tonne ($2.9/t) over the weekend to Yuan 3,980/t EWX and including the 16% VAT as of October 28 after a continuing gain last week, as downstream re-rollers retreated from the market for the time being.
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China’s rebar price continued to trend upward, hitting a new year’s high of Yuan 4,691/tonne ($680/t) including 16% VAT on October 25, up another Yuan 9/t on day, as the downstream demand has been vigorous especially for rebar amid a number of supply disruption factors such as the China International Imports Expo in Shanghai and the upcoming restrictions in the key steel production bases including Hebei and Jiangsu, market sources said.
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China’s long steel market maintained the positive sentiment with the national average HRB 400 20mm dia rebar price up another Yuan 6/tonne ($0.9/t) on day to Yuan 4,682/t including the 16% VAT as of October 24, and Tangshan Q235 billet price gained another Yuan 10/t on day to Yuan 3,990/t EXW and including 16% VAT on Wednesday, on the brink of the previous high at Yuan 4,020/t again.
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Mysteel’s national average price for HRB400 20mm dia rebar rose for a second successive day on Tuesday – albeit by a tiny Yuan 7/tonne ($1/t) on day – to reach Yuan 4,676/t including the 16% VAT and refreshing the year’s highest level since last December.
