Steel price report as of August 26, 2013

Posted on 26 August 2013

China’s Steel prices

Long steel prices

-       Beijing’s spot prices for 18-25mm diameter HRB400 rebar, sourced from Hebei Iron & Steel, eased further by about Yuan 10/mt from last Thursday to Yuan 3,570-3,580/mt, with 17% VAT – source: SBB

Flat steel prices

-       Commercial-grade hot rolled coil (4.5-12mm) in Shanghai traded at 3,610-3,630 yuan ($586-589) per tonne on Friday August 23, unchanged since Wednesday, but down 30 yuan ($5) per tonne from a week earlier – source: MB

-       In Beijing, the HRC was trade at 3,570-3,590 yuan ($579-582) per tonne on the same day, also the same level since Wednesday but down 10 yuan ($2) per tonne on the week – source: MB

Steel Prices in other countries


-          Korea’s Hyundai Steel bid Japanese H2 grade scrap at Yen 32,000/metric ton ($323/mt) FOB on Friday, up from its previous bid of Yen 31,500/mt FOB. But Japanese trading sources deemed this bid too low-priced because they were targeting a minimum H2 export price of Yen 34,500/mt ($348/mt) FOB, up Yen 500/mt from early last week – source: SBB

-          Tokyo Steel Manufacturing increased its scrap purchasing prices twice, or a total of Yen 2,000-2,500/mt ($20-25/mt), for arrivals effective August 20 and August 23 – source: SBB

-          US suppliers of bulk scrap raised their offer prices for HMS 1&2 80:20 basis during the week to $380/mt CFR East Asia and up – source: SBB

-          Heavy scrap over 6mm thick was determined at Yuan 2,710/metric ton ($443/mt) delivered to Jiangsu mills including VAT on August 23, up Yuan 80/mt from a week earlier – source: SBB

-          The weekly UK inter-merchant scrap price remained unchanged at £120-135 ($187-211) per tonne – source: MB


-          The London Metal Exchange’s three-month steel billet contract price remained unchanged from last week at $160-170 per tonne on Friday August 23 – source: MB

-          Turkey's end-users slipped billet price to $505-510/metric ton FOB Black Sea ports, and offers also declined through the course of the week – source: SBB

Bar/Wire rod

-          Taiwan’s Quintain Steel decided to raise the list prices for all its wire rod products by NT$1,000/ton for September – source: Yieh


-          The Korean steel giant Posco announced to hike prices of hot rolled coils (HRC) by KRW30,000/ton for September, driven by increasing material price and rebound of global steel market – source: Yieh

-          Hyundai Steel and Dongbu Steel announced to raise the HRC selling prices by KRW20,000~KRW40,000/ton for August – source: Yieh

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