Steel price report as of October 24, 2013

Posted on 24 October 2013

China’s Steel prices

Long steel prices

-       Some Chinese trader sold wire rod at about $505-510/mt FOB, but buying had apparently waned from last week. Another trader , also selling at $510/mt FOB mainly targeting the United States, had heard small producers trying to sell at about $505/mt FOB to the same market – source: SBB

-       Beijing’s spot rebar prices have still been hovering at lows reached at the end of June, being assessed at Yuan 3,330-3,340/mt ($543-545/mt) on October 23 – source: SBB

-       The average price of 6.5mm HPB235 high speed wire rod and 20mm HRB335 rebar in Chinese major markets down by RMB 1 from the previous trading day to RMB 3,495 per tonne and RMB 3,479 per tonne on Wednesday – source: SteelHome


Flat steel prices

-       In Shanghai, domestic 14-20mm plate was traded at 3,400-3,480 yuan ($555-568) per tonne, including 17% VAT, on Wednesday – source: MB

-       On Wednesday, 1.0mm thick DX51D HDG coils with 80 grams/square meter zinc coating were traded at Yuan 4,420-4,490/mt ($726-738/mt) ex-stock with 17% VAT in Shanghai, down Yuan 10/mt from October 17 – source: SBB

-       On Wednesday, Q235 5.5mm HRC prices were about Yuan 3,440-3,470/mt ($565-570/mt) with 17% VAT in Shanghai and Yuan 3,550-3,560/mt with VAT in Guangdong's Lecong steel market, both down Yuan 5/mt from the previous day – source: SBB

-       The average price of 2.75mm HRC in China market fell by RMB 8 to RMB 3,683 per tonne on Wednesday versus the previous trading day while that of 1.0mm CRC remained flat at RMB 4,498 per tonne – source: SteelHome

-       Prices of 8mm medium plate averaged RMB 3,838 per tonne on Wednesday, down RMB 5 per tonne from the previous trading day – source: SteelHome


Steel Prices in other countries


-          A Belgian merchant dealt a cargo comprising 30,000 tonnes of HMS 1&2 (75:25), 8,000 tonnes of HMS 1 and 7,000 tonnes of new cuttings at an average price of $374 per tonne cfr – source: SBB

-          Japan’s Tokyo Steel announced to raise its scrap purchasing prices at its Utsunomiya works by 500/ton from October 24th to  34,000~36,500/ton for H2 scrap – source: Yieh

-          US’s H1 scrap in Pittsburgh, Chicago and Philadelphia were at US$334.17/long ton on October 21st, 2013, keeping unchanged from a week ago – soruce: Yieh


-          Platts daily assessment remained at $502/mt FOB Black Sea ports on Wednesday for CIS billet price – source: SBB

-          Metalloinvest sold its October-rolled billet at $494-495 fob Black Sea – source: MB

Bar/Wire rod

-          Domestic Northern European rebar prices remain at €500-515 per tonne delivered for October rolling, which translates into a base price of €245-260 per tonne, with an average of €255 added for size differences, processing and delivery – source: MB


-          Importers for SS400/St37 grade HRC from Egypt are pegged at $575/metric ton base FOB, or $595/mt CFR Jeddah – source: SBB



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