Steel price report as of February 13, 2014

Posted on 18 February 2014


-          Steel First assessed CIS-origin billet prices at $493-498 per tonne fob Black Sea on Monday February 17, largely flat from $490-500 per tonne on the same terms a week ago – source: MB

-          Tokyo Steel has further reduced its scrap purchase prices and is now paying ¥36,000 ($353) per tonne for both seaborne and overland deliveries to Utsunomiya and Kyushu; ¥35,500 ($349) per tonne for deliveries to Tahara and Okayama; and ¥34,500 ($339) per tonne for those to Takamatsu – source: MB

-          The Kanto Tetsugen February 13 scrap auction attracted A highest winning bid of Yen 33,010/mt ($324/mt) FAS, a drop of Yen 2,350/mt from the highest-bid in previous month's auction – source: SBB

-          Korean mills were aiming to book bulk HMS 1 at $360-365/mt CFR but suppliers were understood to be offering bulk scrap at the minimum of $370/mt CFR Korea HMS 1. Traders heard bulk full shredded scrap from US were sold at $377/mt CFR Malaysia late February 7 week – source: SBB


-          The London Metal Exchange’s three-month steel billet contract price stood at $360-370 per tonne on Monday February 17, unchanged since January 24- source: MB

-          50,000 metric tons of billet in CIS was sold at $479/mt FOB Odessa for March output, April shipment – source: SBB

-          Regional suppliers in Korea, Vietnam and Malaysia were still targeting a minimum of $525/mt FOB but bids were at $515/mt FOB. Meanwhile, billet export prices from Taiwan have fallen to $510-515/mt FOB, down $10/mt from last month – source: SBB


-          Tokyo Steel’s latest listed on-truck prices for hot rolled sheet unchanged ¥66,000 ($648) per tonne – source: MB

-          Wugang’s Q235 5.5mm HRC ex-works price remained unchanged at Yuan 3,370/mt ($556/mt) without 17% VAT – source: SBB



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