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Chinese prices of imported iron ore for both the portside and seaborne markets continued their climb on September 19, albeit at small increments. Mysteel’s 62% portside iron ore fines price rose Yuan 2/wmt($ 0.29/t) to Yuan 512/wmt FOT Qingdao and including 16% VAT to reach a half-year record, while Mysteel’s
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China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
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Steel mills in Linfen, a major steel production base in North China's Shanxi province, will be imposed on a new round of restrictions on their blast furnaces’ capacity utilization rate over September 21-Ocotober 10 because of the local air pollution, according to the market sources.
Linfen was ranked the most polluted
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Brazilian and Australian iron ore shipments to the global market shrank by another 516,200 tonnes or 2.1% on week to 23.8 million tonnes over the week of September 10-16, according to Mysteel’s latest survey released on September 19.
Brazil’s iron ore shipments recovered slightly from the previous week but were
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US President Donald Trump’s reaffirmation issued Monday that new tariffs would be imposed on $200 billion worth of Chinese imports from next week, though largely expected by observers in China, still triggered concerns among participants in the country’s steel market.
The tariffs starting September 24 will be set at a level
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Mongolia’s exports of coal, including bituminous coal and lignite, over January-August grew by 1.4% on year to reach 23.8 million tonnes, according to Mongolia’s National Statistics Office. The result finally brought an end to seven months of year-to-date declines, the data show.
For August alone, the country’s coal exports increased 17%
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China’s domestic steel market remained generally stable on Tuesday, with Mysteel’s HRB 400 20mm dia rebar benchmark price gaining a small Yuan 6/tonne ($0.9/tonne) on day to Yuan 4,616/tonne including the 16% VAT. The central government’s latest response to Washington’s looming tariff slap on $200 billion worth of Chinese goods
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China’s major
home appliance manufacturers producing televisions, refrigerators and washing
machines stepped up production of these key white goods items in August, while
production of air conditioners showed a decline typical of August, a slack
month, new data from the National Bureau of Statistics (NBS) indicated on
Tuesday.
The production
of televisions enjoyed a double-digit increase on
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China produced 64.66 million tonnes of run-of-mine (ROM) iron ore during August, representing a decline of just 0.16% or 101,000 tonnes on month, according to the latest data from China’s National Bureau of Statistics released on September 18. Chiefly responsible for this decrease was the dip of ROM iron ore
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Steel mills in parts of Tangshan in North China’s Hebei province were informed by the city government on September 18 that they need to keep their sintering machines, shaft furnaces and lime kilns operating at half-capacity over the coming three days as the China Meteorological Administration had warned that prevailing
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Chinese prices of imported iron ore both for port inventories and seaborne cargoes on September 18 refreshed the recent new high, with Mysteel’s 62% portside iron ore fines price gaining Yuan 4/wmt ($0.6/wmt) on day to Yuan 510/wmt FOT Qingdao and including 16% VAT. That for the 62% seaborne iron
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China’s rebar output in August rose by a tiny 0.7% on year to 18.07 million tonnes, according to the latest National Bureau of Statistics data released on September 18. The August result took total rebar output during January-August to 134 million tonnes, higher by 4.4% on year.
August output was also
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China’s new quality criteria on rebar that are to take effect on November 1 is expected to affect small-sized steel producers than larger-sized mills, market respondents agreed on September 18.
The new criteria, released by China’s General Administration of Quality Supervision, Inspection and Quarantine and China’s Standardization Administration on February 6,
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Shanxi Taigang Stainless Steel Co (Tisco), one of China’s major stainless producers and headquartered in Taiyuan City in North China’s Shanxi province, plans to purchase a controlling 51% share of Linyi Xinhai New Materials Co (Xinhai), located in Linyi City in East China’s Shandong province, according to an official announcement
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Chinese domestic
prices of medium plate have remained stable for the past few days, with
Mysteel’s national average benchmark price for 20mm Q235 medium plate still unchanged
at Yuan 4,498/tonne ($661/t) including the 16% VAT as of September 17,
according to Mysteel’s database.
By comparison
with the market for rebars, that for medium plates appears
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China’s domestic steel scrap price is
expected to strengthen further for the week of September 17-21, as there will
be a procurement spree from the domestic steel mills prior to China’s traditional
Mid-Autumn Festival (September 22-24) and National Day Holiday (October 1-7), market
sources agreed.
On September 14, Mysteel’s market prices of
6-8mm common grade steel
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Chinese coal traders have shown little interest in learning more about India’s possible coal import tax removal, anticipating minor affection on their imports of Australian coking coal because of this, Chinese market sources commented on September 17.
Chaudhary Birender Singh, Union Minister of Steel from Indian government disclosed last Friday that
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Steel
trading in South China has been disrupted but is expected to resume in a few
days after the terrifying Typhoon Mangkhut that swiped the region on September 16,
bringing along torrential rains and strong winds that halted local construction
works, Mysteel understands from market sources on September 17.
The
typhoon landed Jiangmen, South China’s Guangdong
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China’s domestic iron ore offer prices gained Yuan 10-30/tonne ($1.5-4.4/t) in some regions across China over September 10-14, mainly because of a shortage of supply, with prices in Northeast China’s Liaoning and East China’s Shandong province heading upwards, Mysteel data shows.
As of September 14, the offer price for 65% grade
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Feng Hsin Steel, Taiwan’s largest rebar producer
headquartered in Taichung, Central Taiwan, has decided to lift both its
domestic rebar list price and its procurement price for locally-sourced scrap
by another TWD 200/tonne ($6.5/t) for the week of September 17-21, a company
official confirmed Monday.
After the adjustment, Feng Hsin’s 13mm dia rebar is now
priced
