Steel price report as of April 3, 2013

Posted on 03 April 2013
 

China’s Steel Prices

Flat

-       China’s SPCC 1.0mm CRC prices were around Yuan 4,700-4,750/mt ($758-767/mt) with 17% VAT in Shanghai and Yuan 4,450-4,470/mt with VAT in Guangdong's Lecong steel market, down Yuan 30/mt and Yuan 100/mt respectively from early last week – source: SBB

-       Chinese prices of 2.75mm HRC down by RMB 22 per tonne to 4,005 per tonne while prices of 1.0mm CRC drop RMB 3 per tonne to RMB 4,779per tonne – source: SteelHome

Long

-       In Beijing, grade III rebar traded at 3,600-3,660 yuan ($574-583) per tonne, unchanged from Monday – source: MB

-       Chinese construction steel prices extended the downward trend. Prices of 6.5mm HPB235 and 20mm HRB335 fell by RMB 7 per tonne to RMB 3,695 per tonne and RMB 3,672 per tonne respectively – source: SteelHome

Steel Prices in other countries

Scrap

-       Domestic scrap buying prices in both Japan and Korea continue to soften. On Tuesday Japanese Tokyo Steel Manufacturing announced that it will cut scrap purchasing prices by Yen 500-1,000/metric ton ($5.4-10.8/mt) for all grades at all works effective from April 3 arrivals – source: SBB

 

Semis

-          The London Metal Exchange’s three-month steel billet contract price fell to $195-205 per tonne on Tuesday April 2, from $205-210 per tonne on Thursday March 28 – source: MB

-          Billet offers have also not changed since last week, and stood at $570-580 per tonne cfr – source: MB

Bar

-          Rebar offer prices from Turkey were still at $610-640 per tonne cfr on Tuesday April 2 – source: MB

-          Malaysia mills are offering rebar of 16-32mm diameter at 2,300 ringgit ($728) per tonne on a locally delivered basis, the same level as last week- source: MB

HRC/P

-          Hot rolled coil (HRC) is being offered to the Gulf region at $610-630 per tonne cfr, unchanged since last week. Some traders expect prices to drop to $600-610 per tonne cfr in April, while some believe new offers from the CIS will be $610-620 per tonne cfr – source: MB

-          Taiwanese re-roller Chung Hung Steel has cut export prices of its hot rolled coils for export customers by $10-15/metric ton for May deliveries, but has kept its domestic prices for hot rolled unchanged for April deliveries – source: SBB

 

 



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