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China’s prices for imported iron ore fell back during the September 16-20 period in tandem with the softening of the country’s domestic steel market. However, buying of port inventories among steel mills remained relatively active as the makers were stocking up ahead of the upcoming National Day holiday over October 1-7.
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The weakness witnessed recently in China’s domestic steel scrap market persisted during the week of September 16-20, with Mysteel’s steel scrap price index edging down by Yuan 12.5/tonne ($1.8/t) on week to Yuan 2,574.5/t on delivery to steel plants and including the 13% VAT as of September 20.
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The total stocks of coke held by the 230 independent coke makers across China sampled regularly by Mysteel dropped by 39,500 tonnes or 4.3% on week to 883,500 tonnes as of September 19, according to Mysteel’s data published on September 20.
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Prices ofimported
coal prices stable over Sept 16-20 2019. Purchase inquiries and transactions
were few and far between.
Coking coal imports
Quotations
of imported coking coal to China
PCIcoal imports:
Quotations
of importedPCIcoal to China
Unit: $/tonne, VAT excluded
Thermal coal imports:
Imported coking coal port stocks on Sept 20
(Unit: in ’000 tonnes)
Note: Jingtang port
stocks have been included in Shougang Group’s
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The most-traded rebar contract on the Shanghai Futures Exchange, that for deliveries in January 2020, lost another Yuan 59/tonne on September 20 from the previous day’s settlement price or by a total of Yuan 161/t on week over the September 12-20 week to end the daytime trading session at Yuan 3,388/t.
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Blast furnace capacity utilization among the 247 blast furnace steel companies across China which Mysteel monitors stabilized over September 13-19, just reversing down by the merest 0.09 percentage point on week to reach 83.06%, but still hovering at a relatively high level, according to Mysteel’s latest weekly survey released on September 20.
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Stocks of imported iron ore at China’s 45 major ports rose to their highest level since late May over the September 13-19 period after their two-week dip, with the volume growing by 3.1 million tonnes or 2.6% on week to reach 122.5 million tonnes as of September 19. The rise was chiefly the result of more vessel arrivals but lower discharge rates, according to Mysteel’s latest weekly survey published on September 20.
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China’s domestic iron ore concentrate prices in the country’s main ore-producing regions rebounded over September 9-12, rising by Yuan 10-44/tonne ($1.4-6.2/t) from September 6, following the upward trend in prices of imported iron ore, according to Mysteel’s latest weekly survey.
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Total coking coal stocks at the 230 independent coke plants across China which Mysteel monitors increased by 1.5% or 219,200 tonnes on week to 14.6 million tonnes as of September 12 to reach a near three-month high, according to Mysteel’s recent data.
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China’s prices for imported iron ore continued recovering amid active trading during the September 9-12 period, with Mysteel’s pricing index for 62% Australian iron ore fines in port inventories up Yuan 32/wmt ($4.5/wmt) or 4.3% from the previous Friday to reach Yuan 772/wmt FOT Qingdao as of September 12, including the 13% VAT.
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Average coke output among the 230 Chinese independent coke plants Mysteel samples regularly dropped by a further 6,900 tonnes/day on week to 667,300 t/d as of September 12 to reach an eight-month low, according to Mysteel’s latest data.
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Iron ore shipments from Australia and Brazil to global destinations rebounded over September 9-15, climbing by 897,000 tonnes or 4.3% on week to 21.9 million tonnes, according to Mysteel’s latest weekly survey.
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Average daily production of iron ore concentrates over August 30-September 12 among the 186 Chinese mining companies under Mysteel’s bi-weekly survey declined to a three-month low of 517,700 tonnes/day, with those in a few regions being chiefly responsible for the fall, according to the latest survey on the market.
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China’s domestic steel scrap market continued to climb over the week of September 9-12, given the firm demand among domestic steelmakers, market watchers said Monday, with Mysteel’s steel scrap pricing index increasing by Yuan 42/tonne ($6/t) on week to Yuan 2,587/t on delivery to mills and including the 13% VAT as of September 12.
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Brazilian miner Vale announced on September 13 Brazilian time that it had suspended work in one mining front at its 30 million tonnes/year Brucutu mine in its Southeastern System in Southeast Brazil’s Minas Gerais state, following Brazil's National Mining Agency’s (ANM) decision. However, the company said the suspension will not impact iron ore production at the mine.
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Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market.
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Prices ofimported
coal prices stable over Sept 9-12 2019. Purchase inquiries and transactions
were few and far between.
Coking coal imports
Quotations
of imported coking coal to China
PCIcoal imports:
Quotations
of importedPCIcoal to China
Unit: $/tonne, VAT excluded
Thermal coal imports:
Imported coking coal port stocks on Sept 12
(Unit: in ’000 tonnes)
Note: Jingtang port
stocks have been included in Shougang Group’s
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Blast furnace capacity utilization among the 247 blast-furnace steel companies across China which Mysteel monitors stabilized over September 6-12, rising by a minuscule 0.2 percentage point on week to reach 83.15% – though admittedly, refreshing a ten-week high. During the week, Chinese steel mills maintained relatively high production, encouraged by the recovery of steel prices.
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Stocks of imported iron ore at China’s 45 major ports continued declining over the September 6-12 period, with the volume down by 1.5 million tonnes or 1.2% on week to reach 119.4 million tonnes as of September 12. The decline was largely the result of fewer vessel arrivals and still relatively high discharge rates, according to Mysteel’s latest weekly survey on September 12.
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Stocks of imported iron ore fines at the 64 Chinese steelmakers across the country rose to the three-month high of 15.9 million tonnes as of September 11 after having reversed up by 1.02 million tonnes or 6.8% on a fortnight, according to Mysteel’s latest bi-weekly survey over August 29-September 11.
