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Vietnam's domestic integrated steel maker Formosa Ha Tinh has announced roll over in its hot-rolled steel prices for Apr'20 deliveries. According to the company's official report to SteelMint, offer for HRC (SAE 1006, skin pass) is assessed at USD 520/MT CIF Ho Chi Minh for Apr’20 deliveries, unchanged against last month.
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Kanto Tetsugen- Japan’s monthly ferrous scrap export tender for Feb’20 was concluded today (12th Feb’20) in the Kanto region. After successive price hikes for the last 3 months, since Nov’19, the winning bid price again fell sharply this month on the ongoing collapse in the Japanese domestic scrap market. Bids in Japan scrap export tender have hit 4-month low as prior to this lowest was in Oct'19.
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This week imported HRC offers to Vietnam plunged further by USD 15-20/MT w-o-w in comparison to last week offers for positioned cargoes.
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Shagang Group, China’s largest privately-owned steel producer in East China’s Jiangsu province, has decided to keep the list prices of all its long steel products unchanged for February 11-20 sales, according to Shagang’s latest pricing policy tabled on February 11. The rollover marks the third straight period that the company has made no adjustments to its sales prices, Mysteel Global notes.
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Note:
a) All prices are originated from Baosteel.
b) Exchange rate in February $1=Yuan 6.9863; Exchange rate in January 1US$=RMB 6.9762; price excluding 13% VAT.
c) “N/A” means Baosteel did not release price of the corresponding specification.
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Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, opted to roll over its domestic sales list prices for carbon steel hot-rolled coil (HRC) for March, according to its pricing policy released on February 10. For the past two months, the steel giant had lifted its prices of hot coil by a total Yuan 230/tonne ($33/t).
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Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung, Central Taiwan, cut its scrap and rebar prices, both by TWD 300/tonne ($10/t) on January 31 and February 3 respectively, as downstream buyers have been expecting for further price declines amid recent drops in iron ore and scrap prices, a company official confirmed on February 5.
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After winning Nuagaon mines, JSW Steel has won Narayanposhi iron ore mine block in Odisha under the ongoing auctions of the leases that are due to expire in 31 Mar'20.
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Iron ore shipments from Australia and Brazil to global destinations increased further by 233,000 tonnes on week to 20.5 million tonnes, mainly because of the higher shipment volume from Australia, Mysteel’s latest weekly survey over January 27-February 2 showed.
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Shagang Group, China’s largest privately-owned steel producer in East China’s Jiangsu province, has remained its listed prices of major long steel products unchanged for the domestic market over February 1-10, though market sentiment has turned pessimistic with the prolonged Chinese New Year (CNY) break because of the outbreak of the Novel Coronavirus (2019-nCoV) in late January, Mysteel Global understands from market sources on Monday.
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China Steel Corporation (CSC), Taiwan’s top steel producer headquartered in Kaohsiung, South Taiwan, posted its carbon steel sales down 8.5% or 951,413 tonnes on year to 10.3 million tonnes over 2019, while its pre-tax profit plunged by 60% on year, according to the company’s latest release on January 30.
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China’s three exchanges of bulk commodities including the Dalian Commodity Exchange (DCE), the Shanghai Futures Exchange (SHFE), and the Zhengzhou Commodity Exchange (ZCE), all announced to suspend night trading starting February 3.
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The Odisha Mining Corporation Ltd has decided to use the service of MSTC Ltd (a Govt. of India Undertaking) to conduct e-auction for selling off it's (OMC) chrome ore.
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Rashtriya Ispat Nigam Limited (RINL), state-owned steel maker under the Ministry of Steel, has invited a tender for the export of 10,000 MT Bloom and 10,000 MT Billets.
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Cedar Holdings Group Co Ltd, a privately-owned commodities investment company in China with quite some exposure in the domestic bulk commodities market, has expanded its presence by fully acquiring the UK-headquartered Stemcor Global Holdings Ltd on January 21 Swiss time, according to the two companies’ press releases.
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Shagang Group, China’s largest private steel producer in East China’s Jiangsu province, announced on Tuesday it is rolling over all its long steel prices for sales over January 21-30, amid the steel-market stability overall ahead of the week-long Chinese New Year (CNY) holiday beginning January 24.
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Indian importers are heard to have booked HRC for imports from South Korea towards the end of the last week for March shipments SteelMint learned from market participants.
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Prices for imported scrap to Vietnam witnessed a downward trend over the last week, with offers from Japan as well as North America inching down on low demand as well as following the present global trend. The effect of rise in Japanese Kanto tender’s result is yet to be noticed.
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Ferrexpo plc, third largest exporter of pellet in the global market has released its Q4 CY19 results today. The company recorded pellet production at 10.52 MnT in CY19, down slightly as compared to 10.61 MnT in CY18. The output reduced amid falling demand.
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India’s finish-flat imports declined by 3% Y-o-Y to 5.82 MnT in CY’19, which was 5.97 MnT in CY’18, as per customs data maintained with SteelMint.
