Steel price report as of October 12, 2012

Posted on 12 October 2012

China Steel Prices


-          China’s spot prices for 1.0mm thick HDG rose to RMB 4,700-4,730/t ($749-753/t) with 17% VAT on 11 October in the Shanghai market, up around RMB 100-120/t from prices at the end of last month – source: SBB

-          China’s latest transactions on Wednesday October 10 for commercial-grade, boron-containing plate was in the range of $535-540 per tonne fob for December shipment, up $15 per tonne from that for November shipment – source: MB


-          Eastern China’s Shagang lifted its rebar prices by RMB 100/tonne ($16/t) and wire rod prices by RMB 150/t; northern China’s Hebei Iron & Steel (Hegang) hiked its rebar list prices by RMB 100-150/t – source: SBB

-          China’s prices for 6.5mm high speed wire and 20mm rebar at RMB 3,864 per tonne and RMB 3,855 per tonne respectively – source: Steelhome

-          Wuhan Steel raised its prices by 50-150 yuan per tonne for November shipment, while Baosteel remained its prices unchanged – source: MB

Steel Prices in other countries


-          The average prices of the US’s H1 scrap in Pittsburgh, Chicago and Philadelphia were at US$304.17/long ton on October 8st, 2012, falling by 43.33/long ton from a week ago and hitting the 3-month low – source: Yieh

-          Average prices of Japanese H2 scrap in Kanto, Central and Kansai region were at 21,979/ton in the second week of October, declining by 950/ton from a week ago – source: Yieh

-          Market consensus was that HMS 1&2 (80:20) cfr Turkey was in the $360-365 per tonne range, up from $350 earlier this week – source: MB


-          Black Sea billet producers came out with November production offers at $510/tonne fob Russian and Ukrainian ports, but traders' offers were up to $20/t below that for December shipments – source: SBB


-          Nucor’s rebar prices decreased by a net of $25/s.t – source: SBB

-          European locally traded rebar has been sold this week for €520-540 ($669-695) per tonne delivered for October production, down from €520-550 last week – source: MB


-          Ukraine offered HRC at $535/t cfr T urkey, down from $550/t cfr – source: SBB

-          A Russian mill is offering coils at $560-565 cfr Mumbai for Shipments in January. This compares with HRC booked in the first week of October from a Japanese mill at $540-545 cfr Mumbai – source: MB

-          Indian mills reduced their prices for hot rolled coil (HRC) this week by almost Rs2,250 ($42) per tonne for October sales to Rs33,250-33,500 ($629-634) per tonne– source: MB


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