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China’s national average price of HRB400 20mm dia rebar declined further for the fourth working day as of July 15 to Yuan 4,070/tonne ($592/t) including the 13% VAT, or down another Yuan 14/t from last Friday, while the spot sales of construction steel jumped 46.9% from July 12.
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Mysteel’s Tangshan Q235 150mm square billet price, a key indicator of China’s steel market sentiment, especially for long products, increased Yuan 30/tonne ($4.4/t) on week to Yuan 3,650/t EXW and including the 13% VAT as of July 12, as supply had reduced because of the ongoing restrictions on local steel mills since late June.
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The Tangshan Q235 150mm square billet price, a barometer of China’s steel market sentiment, especially for long steel, reversed down Yuan 30/tonne ($4.3/t) from last Friday to Yuan 3,620/t EXW and including 13% VAT as of July 14, according to Mysteel’s daily price tracker.
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On July 11, China’s steel prices have been hovering, with Mysteel’s national average HRB400 20mm dia rebar benchmark price dipped further by Yuan 4/tonne ($0.6/t) on day to Yuan 4,086/t.
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China’s domestic steel prices softened on Wednesday and spot trading fell to a four-month low on Wednesday after a rather robust trading on the previous day.
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The Tangshan Q235 150mm square billet price, a crucial indicator of China’s steel market sentiment, rebounded Yuan 30/tonne ($4.4/dmt) on day after a pause on Monday to Yuan 3,650/t EXW and including the 13% VAT as of July 9, as market expectation on higher prices was boosted by the possible tightening in supply and the remaining strong iron ore prices.
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Billet consumption among the 96 steel re-rollers in Tangshan, China’s top steel production city in North China’s Hebei province, averaged 60,900 tonnes/day over June 27-July 3, according to Mysteel’s latest survey. This was higher by a significant 25,400 tonnes/day or 41.7% on week as re-rollers returned to production from July 1 after their operations had been halted for over half a month.
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Domestic steel prices will probably reach their peak for this year in late July or early August amid comparatively firm demand and the tough restrictions being imposed on the operations of mills in North China, delegates attending the 4th China Steel Derivatives International Conference (2019) in Shanghai on July 5 learned.
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The benchmark price of Q235 150mm billet in Tangshan city, the key indicator of the country’s steel market sentiment , especially in North China, softened a little over July 5-7, losing Yuan 10/tonne ($1.5/t) to reach Yuan 3,610/t EXW and including the 13% VAT as of July 8, Mysteel Global notes. Re-rollers’ buying interest remained weak, sources said.
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Mysteel’s Tangshan Q235 150mm square billet price, a key indicator of Chinese steel market trends, rebounded by Yuan 30/tonne ($4.4/t) on day on Thursday to Yuan 3,660/t EXW and including the 13% VAT after plunging by a total of Yuan 70/t over the previous two days.
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China’s domestic steel prices, with rebar and Tangshan billet in particular, ebbed for the second day on July 3, when the market fully digested the news of restrictions on Tangshan steel mills and demand stayed lacklustre so far in July, making high-priced steel products hard to push through to the traders and end-users in a low season.
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Mysteel’s national HRB400 20mm dia rebar benchmark price surged Yuan 80/tonne ($11.7/t) from last Friday to Yuan 4,169/t including the 13% VAT as of July 1, as the Chinese steel market sentiment stayed positive amid the ongoing execution of restriction on steel mills in Tangshan, North China’s Hebei province, and the substantial strengthening in Tangshan billet price.
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The benchmark price of Q235 150mm billet in Tangshan city, a key indicator of the country’s steel market sentiment – especially in North China, surged by a strong Yuan 50/tonne ($7.3/t) last weekend to Yuan 3,670/t EXW and including the 13% VAT as of June 30, a new high for the year.
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As Tangshan's local government step up its efforts against air pollution, an announcement was made on June 23, 2019. There will be stricter production curbs in place on some steelmakers' processes, from sintering to steel refining.
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China’s prices of rebar and Tangshan billet, increased further on the confirmation that Tangshan has indeed been implementing the restriction on local steel mills.
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China’s steel prices, including rebar and Tangshan billet, continued with the increase as the market is still under the strong influence of the latest round of restriction among the Tangshan steel mills starting as early as on June 23 on some facilities and more concrete information has been circulated in the market.
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Billet prices in Tangshan, China’s top billet production base in North China’s Hebei province, have climbed sharply and continuously over the past few days after the city government announced intensified production curbs on steel mills. However, market insiders warn that prices could still retreat.
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China’s national rebar prices and the Tangshan billet price, both being the barometers of the Chinese steel market sentiment, gained substantially on June 24, in response to Tangshan’s new round and stricter curbing on the local mills’ sintering, blast furnaces, converters, and lime kilns until end of July to battle against local air pollution.
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The Tangshan Q235 150mm billet benchmark price, a key indicator of China’s steel market sentiment especially for North China, gained strongly by Yuan 70/tonne ($10.2/t) over the weekend toYuan 3,530/t EXW and including the 13% VAT as of June 23 mainly on the latest news that the local authorities have kick started a new round of curbing on local steel mills on air quality concerns.
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China’s rebar price reversed up on June 19, though trading volume subsided, as suppliers were attempting to hold onto prices given the further incline in production cost, Mysteel Global learned.
