Steel price report as of October 17, 2012

Posted on 17 October 2012
 

China Steel Prices

Flat

-          In Shanghai’s domestic market, prices of Q235 5.5mm HRC increased to RMB 3,730-3,740/t ($596-597/t) with 17% VAT on the afternoon of 16 October –source: SBB

-          Wuhan Iron & Steel’s price increases for November hot rolled coil and cold rolled coil production, northern China’s Shougang announced a RMB 50/tonne ($8/t) hike in its November HRC list prices and RMB 50-120/t for CRC prices on 16 October, taking Q235 5.5mm HRC to RMB 3,170/t ($506/t) and CRC to RMB 3,980/t – source: SBB

-          China’s prices for 2.75mm HRC dropped by RMB 13 per tonne to RMB 3,880 per tonne; 1.0mm, CRC edge prices down by RMB 4 per tonne to RMB 4,565 per tonne – source: Yieh

Long

-          China’s prices for 6.5mm high speed wire fall by RMB 19 per tonne to RMB 3,811 per tonne and 20mm rebar lose RMB 23 per tonne further to RMB 3,797 per tonne – source: Yieh

 

Steel Prices in other countries

Scrap

-          A large-scale scrap supplier in the US offered the HSM 80:20 (1&2) and shredded scrap quoted at US$338/ton C&F and US$345/ton C&F to Taiwan this week, falling by US$7/ton from a week ego – source: Yieh

Semis

-          CIS and Turkish billet exporters have this week lowered their prices to Gulf consumers by $5 per tonne for November shipment, but sales remain slow. Small parcels of material have been changing hands at $540-550 per tonne cfr main Gulf port – source: MB

Bar

-          Gulf rebar offer prices have been quoted in the range of $550-590 cfr for November production and delivery, compared with deals concluded at $550-600 cfr previously – source: MB

-          Offers and deals for the long product – which includes angles, channels and flat bar – were heard at $625-645 per tonne fob for November rolling in the past week, down from earlier prices of $630-660, according to market participants – source: MB

HRC

-          US Steel Corporation has slated a $40-a-ton price increase in the domestic hot rolled coil market – source: MB

-          Ukrainian HRC price is reported to decline to $510/t fob Black Sea or the equivalent on average – source: SBB

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