Steel price report as of June 24, 2011

Posted on 24 June 2011
 

Scrap

-          US scrap price for 80:20 shredded up $10 per tonne to $497 per tonne CFR to China- source: SBB

-          Hyundai bought 80,000-90,000 tonnes of Russia A3 grade scrap for July/August shipment at $474 per tonne CFR- source: SBB

-          Tokyo steel lifted scrap buying price by $6-12.5 per tonne – source:SBB

-          Saudi Arabian domestic scrap prices remain unchanged at $264 per tonne – source: SBB

Bar

-          China's rebar price fell by 20-80 Yuan per tonne ($3-12) – source: MB

Hot rolled coil prices

-          Domestic HRC offer prices in Europe slide to Euro 550-555 per tonne, down by Euro 10-20 per tonne – source: MB

-          POSCO increased domestic price for HRC, CRC and heavy plate by 16-18%- source: Yieh

-          Taiwan's Chung Hung Steel cut HRC, CRC price by NTD 1,600-1,700 for June delivery- source: Yieh



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