Steel price report as of December 11, 2012

Posted on 11 December 2012

China’s Steel Prices


-          Prices of Q235 5.5mm HRC were around Yuan 3,920-3,960/metric ton ($629-636/mt) with 17% VAT in Shanghai and Yuan 4,010-4,020/mt with VAT in Guangdong's Lecong steel market, both up by Yuan 10-20/mt from last Friday – source: SBB

-          China’s prices for 2.75mm HRC surged by RMB 11 per tonne to RMB 4,049 per tonne; prices for 1.0mm CRC increased by RMB 5 per tonne to RMB 4,600 per tonne – source: SteelHome


-          Prices for 6.5mm high speed wire rod increased by RMB 8 per tonne to RMB 3,628 per tonne; 20mm rebar prices reached RMB 3,626 per tonne, up by RMB 5 per tonne– source: SteelHome

Steel Prices in other countries


-          The Metal Bulletin daily scrap index for European HMS 1&2 (80:20) material was unchanged day-on-day at $381.44 per tonne on Friday December 7 – source: MB


-          Offers for billet from Korean mills remained at $580/metric ton CFR Philippines. Offers for billet from Taiwan were at $555-560/mt FOB while certain Japanese mills were offering material at $540/mt FOB. The maximum price today for Korean/Asean billet is $570/mt CFR – source: SBB

-          The London Metal Exchange’s three-month steel billet contract price increased to $330-340 per tonne on Friday December 7, from $310-320 per tonne on Thursday – source: MB


-          Italy’s rebar prices have fallen around €10/mt from last week, to €235-240/mt base ex-works (€485-490/mt effective)- source: SBB

-          Taiwan’s major rebar makers Feng Hsin Iron & Steel and Hai Kwang Enterprise have cut domestic base-sized rebar prices each by TWD 200/metric ton ($7/mt) to TWD 18,000/mt ($616/mt) ex-works central-west Taichung and Hai Kwang’s selling price to TWD 15,000/mt ex-works southern Kaohsiung – source: SBB


-          Nucor announced to hike its prices for steel flat products including hot rolled, cold rolled and galvanized steel sheets and coils by US$22/ton, which has become effective immediately – source: Yieh

-          The average of last week's daily US HR coil reference prices FOB Midwest mill increased by $5/short ton to $643/st ($709/metric ton) – source: SBB

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