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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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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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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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The Shanghai Futures Exchange (SHFE) successfully delivered its first stainless futures contract for February 2020 on Thursday, with the settled volumes totaling 1,860 tonnes and valued at Yuan 24.5 million ($3.5 million). Making the deliveries were stainless steel producers and trading companies, an SHFE official confirmed. The deliveries involved mainstream stainless cold-rolled coil brands.
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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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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.
