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As per data maintained with SteelMint, exports log of South Korea for the month of Jan’20 is as follows:
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The Tangshan Q235 150mm square billet price, a barometer of the Chinese steel market vitality, strengthened further over the weekend with an improving market sentiment, gaining another Yuan 70/tonne ($10/t) from last Friday to Yuan 3,110/t as of February 23, Mysteel’s data showed.
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As China’s fight against Novel Coronavirus Pneumonia (NCP) continues to show encouraging signs of progress of late, more Chinese enterprises have been resuming operations after this year’s extended Chinese New Year holiday break. Several provinces have reported that over 70% of the industrial enterprises they host have restarted work, Mysteel learnt from announcements of local authorities on February 19.
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The blast furnace capacity utilization rate among 247 Chinese steel plants under Mysteel’s weekly survey refreshed its four-month low as of February 20, hitting 73.9% after having fallen for the third week over February 14-20, as China’s steel demand stayed sluggish amid the ongoing battle against the Novel Coronavirus Pneumonia (NCP) outbreak.
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China’s 81 property enterprises have filed for bankruptcy since the start of 2020, according to the official data from the People’s Court Announcement, as their promotional efforts including discounts have been futile in selling off their housing stocks so far when people dare not even step out of the door most of the time since the nationwide outbreak of Novel Coronavirus Pneumonia (NCP) in latest January.
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Mysteel’s national average HRB400 20mm dia rebar benchmark continued to soften on Thursday to refresh its 33-month low to Yuan 3,668/tonne ($524/t) but trading improved significantly thanks to the gradual recovery of downstream demand.
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China’s domestic steel prices may stabilize in the coming days with the gradual recovery in domestic demand, the China Iron & Steel Association (CISA) stated in its latest monthly report on February 19. More steel-consuming enterprises and construction sites may resume operations starting next week in response to the central government’s measures to facilitate progress, the association suggested.
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Rebar rolling capacity utilization rate at the 22 sampled steel producers in Jiangsu of East China, the country’s largest rebar production base, fell to 40.2% as of February 18, a record low since March 2015, as they had been forced to scaled down production amid high stocks and constraints of raw materials supply and manpower amid the ongoing fight against Novel Coronavirus Pneumonia (NCP), according to a Mysteel’ market survey.
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List prices for carbon steel billet offered by blast furnace mills in Tangshan in North China’s Hebei province, the country’s largest billet supplier, have slid to a three-year low as operations at most of the city’s re-rollers have remained suspended, Mysteel Global observed.
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Khouzestan Steel Company (KSC) - one of the leading exporters of Iran has concluded a billet export deal recently. The deal quantity is 30,000 MT and size is 150*150 mm. The delivery is scheduled for end Mar’20. As per market sources reported to SteelMint, the company has concluded the deal to some GCC country. The deal value was reported to be around USD 385-390/MT, FOB Iran.
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China's national average benchmark price for HRB400 20mm dia rebar decreased another Yuan 16/tonne ($2.3/t) on day to Yuan 3,677/t including the 13% VAT as of February 19, though it was still at a 33-month low. Steel demand remained largely weak though it was encouraging that construction steel spot trading volume had been recovering gradually.
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The outbreak of Novel Coronavirus Pneumonia (NCP) in China since the beginning of this year has been affecting all commercial activity and the business of exporting steel has been no exception. But Chinese steel export market insiders canvassed by Mysteel Global earlier this week saw both negative and positive influences.
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China’s January sales of excavators at the domestic market and exports fell on year for the first time since last June, down 15.4% on year to 9,942 units, according to the latest data released by the China Construction Machinery Association (CCMA) on February 19, because of a shorter working month with the Chinese New Year (CNY) holiday in late January and substantial declines in domestic sales.
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Karnataka iron ore bid prices for high grade ore have witnessed a sharp rise in recent e-auctions.
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State-owned Asset Supervision and Administration Commission (SASAC), a ministerial-level organization under the direct governance of China’s State Council, called for China’s state-owned construction and engineering companies to “conquer the hardship caused by Novel Coronavirus Pneumonia (NCP) and resume work as soon as possible” in its post on the website on February 15.
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Steel Authority of India Limited (SAIL) yesterday declared its performance results for the third quarter of FY20. During the quarter, the company reported 5% growth in its topline over corresponding period last year (CPLY).
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China’s national average price for HRB400 20mm dia rebar slipped to a 33-month low of Yuan 3,708/tonne ($531/t) including the 13% VAT as of February 17, down another Yuan 22/t from last Friday, and the domestic steel market had in general been in a lull.
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Chinese steel exporters continue to slash offer prices aiming to boost overseas sales to offset the impact that the Novel Coronavirus Pneumonia (NCP) outbreak is having on their domestic sales, market sources indicated on Monday.
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Daily crude steel output among the 97 major steelworks members of the China Iron and Steel Association (CISA) reversed down during the first ten days of February after the continuous rally seen last month, with the tonnage down 53,500 tonnes/day or 2.68% from the average level for late January to reach 1.94 million t/d, according to the association’s latest release on February 15.
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Billet stocks with 14 trading houses in Tangshan, North China’s Hebei province, mounted further to a new 10-month high of 666,900 tonnes by February 13, as the demand had been almost non-existent when most of the downstream users had been unable to resume normal operations with the ongoing battle against the Novel Coronavirus Pneumonia (NCP) across China, Mysteel’s latest survey on this.
