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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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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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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 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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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.
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China’s domestic steel market displayed further signs of weakening on Tuesday, with the national average HRB 400 20mm dia rebar benchmark price slid down further by Yuan 17/tonne ($2.5/t) on day to Yuan 3,969/t including the 13% VAT as of June 18, though the decline was milder against the Yuan 50/t loss on Monday, or the steepest single-day loss in six months.
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Mysteel’s national average HRB 400 20mm dia rebar benchmark price plummeted by Yuan 50/tonne ($7.2/t) on Monday to Yuan 3,986/t including the 13% VAT, falling below the threshold of Yuan 4,000/t and marking the largest single-day decline in six months. Many market insiders admitted the plunge was “beyond expectations”.
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Stocks of the five major finished steel items at Chinese traders and steel mills increased over the period of June 6-12, with the traders’ stocks even seeing their first rise since the Chinese New Year holiday back in February, Mysteel has learned. Stocks mounted mainly because overall steel production stayed high while demand retreated due to the Wet season rains falling across much of China, industry watchers said.
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Mysteel’s national average price for HRB400 20mm dia rebar reversed down Yuan 17/tonne ($2.5/t) on day to Yuan 4,044/t including the 13% VAT as of June 13, and the trading enthusiasm stayed sluggish despite a minor recovery.
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China’s sales of excavators and other heavy equipment in May lost 2.2% on year or 33.5% on month to reach 18,897 units, their first decline this year, according to the latest survey of the China Construction Machinery Association (CCMA) released on June 13. Market insiders attributed the decline to a correction following the surge in sales seen over the past few months.
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Production and sales of automobiles in China declined further in May, with output plunging by 9.9% on month or 21.2% on year to reach 1.85 million units, according to the latest data from China Association of Automobile Manufacturers (CAAM) released on June 12.
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Mysteel’s national HRB 400 20mm dia rebar benchmark price rebounded on Tuesday after two working days of declines to rise by Yuan 12/tonne ($17.4/t) on day to Yuan 4,058/t including the 13% VAT. Mysteel’s Tangshan Q235 150mm square billet also increased by Yuan 30/t on day to Yuan 3,510/t EXW and including the VAT.
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China exported 29.1 million tonnes of steel over the first five months of this year, representing an increase of 2.5% or 699,000 tonnes on year, according to data from China’s General Administration of Customs (GACC) released on June 10. However, the pace of export growth slowed by a significant 5.8 percentage points from that over January-April, Mysteel Global noted.
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Nationwide rebar prices and prices of billet in North China’s Tangshan city, the two barometers of Chinese steel market conditions, both declined on June 6, the last working day before the Dragon Boat Festival holiday weekend, as domestic steel market sentiment remained negative ahead of the break.
