Steel price report as of January 29, 2014

Posted on 29 January 2014
 

China’s Steel prices

Long steel prices

-          The average price of 6.5mm HPB235 high speed wire rod and 20mm HRB335 rebar in Chinese major markets held steady at RMB 3,407 per tonne and RMB 3,404 per tonne respectively on Tuesday – source: SteelHome

-          In Shanghai, grade III rebar was traded at 3,340-3,370 yuan ($547-552) per tonne, unchanged since January 21 – source: MB

Flat steel prices

-       The average price of 2.75mm HRC in China market remained stable at RMB 3,613 per tonne on Tuesday versus the previous trading day and that of 1.0mm CRC unchanged at RMB 4,403 per tonne – source: SteelHome

-       The average price of 8mm medium plate in China market reached 3,824 per tonne on Tuesday, up RMB 1 per tonne from the previous trading day – source: SteelHome

-       China’s domestic HRC prices fell by 30-40 yuan ($5-7) per tonne in the east of the country and by 30 yuan per tonne in the north over the past week, as dealers kept lowering offer prices to speed up sales before the holiday – source: MB

Steel Prices in other countries

Scrap

-          The price of melting scrap from shipbreaking in Turkey continued to fall this week at $370-380 and 385 per tonne – source: Steel First

-          Metal Bulletin’s daily index for HMS 1&2 (80:20) scrap closed at $377.28 per tonne cfr, unchanged from Friday’s index – source: Steel First

Semis

-          CIS’s 5,000 mt lot sold to Turkey sold at $512/mt CFR Aliaga for February shipment, while a larger, possibly 20,000 mt, lot was sold to Libya at $530/mt CFR Misurata, of Ukrainian origin – source: SBB

-          The London Metal Exchange’s three-month steel billet contract price rose to $360-370 per tonne on Monday January 27, from $355-365 per tonne on Friday – source: MB

 

HRC/P

-          US HRC remains at $670-680/st – source: SBB

-          Platts maintained its HRC price assessment at $670-680/st and its CRC price at $790-800/st. All prices are normalized to a Midwest (Indiana) ex-works basis – source: SBB

-          Commercial-grade HRC (4.5-12mm) in Shanghai traded at 3,430-3,460 yuan ($562-567) per tonne, up 10 yuan ($2) per tonne from last Friday’s range – source: MB

 



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