Steel price report as of November 1, 2012

Posted on 01 November 2012

China’s Steel Prices


-          Chinese latest base export prices for commercial-grade, boron-containing plate were in the range $520-530 per tonne fob for December and early January shipment, unchanged from last week – source: MB

-          In Shanghai, 14-20mm plate was trading at 3,560-3,600 yuan per tonne on Wednesday October 31, up 10 yuan from Tuesday, and 20-30 yuan per tonne higher than a week earlier – source: MB


-          LME billet cash prices fell to $330-350 per tonne, down from $345-355 recorded on the previous trading day – source: MB

-          Exporters said workable prices for China-origin 6.5mm SAE1008B wire rod to Southeast Asia still hovered at about $525-530/tonne fob, while transactions could take place at about $540/t fob with South American buyers – source: SBB

-          Northern China’s Hebei Iron & Steel (Hegang) has raised its rebar reference price for early November deliveries by RMB 100/metric ton ($16/mt) from its October contract price – source: SBB


Steel Prices in other countries


-          Metal Bulletin’s ferrous scrap index on an HMS 1&2 (80:20) basis was $383.48 per tonne cfr Iskenderun on Wednesday, October 31, a 2.3% rise compared with $374.81 on October 24 – source: MB


-          Offer prices for rebar into the Persian Gulf have risen by up to $20 per tonne cfr to $590-610 per tonne cfr main Gulf port – source: MB


-          Import prices for hot rolled coil (HRC) into the Gulf region have remained unchanged over the past week at $535-560 per tonne cfr main Gulf port – source: MB

-          SS400 grade HRC from Posco was being offered at KRW 760,000-770,000/tonne ($697-706/t) – source: SBB

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