China Steel Price of 26th, April 2018



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28 April 18
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HRC SS400, FOB China $586

Rebar B500B, FOB China $525

CRC SPCC, FOB China $618

HDG SGCC, FOB China $689

Wire Rod SAE1008, FOB China $558

Hot Rolled Steel Plate A36, FOB China $606

H Beam Q235, FOB  China $606

Square Bars Q235, FOB China $524

Hot Rolled Steel Coil

This week, the active prices of hot rolled steel coil domestic transactions have strengthened, and China steel mills have generally raised their export prices. SS400 common grade hot rolled steel coil price quoted this week was quoted at $590-605 FOB, up by $10-15 from the previous week. Although the transaction volume has decreased compared to last week, the transaction price has risen slightly. This week, the market feedback on the prices of Chinese raw materials and cutting steel sheet of hot rolled was $585-590 FOB, and the prices of tube and cold rolled base materials were $590-595 FOB.

Rebar

The price of China domestic trade increased sharply this week, and steel mills generally raised their export prices. The mainstream price of East China was adjusted to the level of $550 FOB. Individual factories suspended their offers because of maintenance or bullish outlook. After the overseas buyers concentrated their inventory in the early stage, they were more likely to wait and see the price increase. Some market intentions were only adjusted at $520-525 FOB, making transactions difficult. In addition, Turkish resources offer $560 CFR Singapore, no deal.

Cold Rolled Steel Coil

The overall rise in the domestic trade market this week led the export prices of cold coils to regain lost ground. SPCC cold rolled coils from mainstream mills are offered at $620-630 FOB and traded in the $615-620 FOB range and exported to Southeast Asia, Taiwan and North America. Another part of the steel mill was more full of orders last week, and this week the market closed. Currently, market participants are mostly optimistic about the post-holiday market and believe that there is still room for price increases.

Hot Dipped Galvanized Steel Coil

The export price of hot dipped galvanized steel coil in China rose slightly this week, but the transaction was still relatively sluggish. The mainstream steelmaker SGCC 1.0mm Z120 zero flower galvanized offers ranged from $690-703 FOB, slightly higher than last week. A steel producer in the North of China is trading at an expected price of $690 FOB, but it is difficult to persuade customers to accept this price and refocus on the $680-685 FOB. As the steelmakers are optimistic about the market outlook, they will not consider the orders for price reductions in the short term.

Hot Rolled Steel Plate

Due to the strong China domestic demand and tight supply, the export price of medium plate rose this week. This week, China steel mills exported a large amount of their base price of $625 FOB to South America, Southeast Asia, Africa and Australia, and about 1,000 tons of medium plates were exported to South America at a base price of $605. This week, major steelmakers are quoting $5-10 higher and the mainstream price range is $605-630. China’s new ship orders in the first quarter increased by 180% year-on-year, bringing with it a large amount of domestic trade orders recently, and leading to a reduction in the domestic market’s spot market supply. At least two major steel mills have sold out their midspans in June. One steel mill stopped quoting this week, and even mid-table plants could not normally deliver the recent domestic trade orders. The market is therefore generally bullish on the mid-table future.

H Beams

Due to the warming of China domestic trade demand, the export prices of steel products have risen this week. The mainstream offer range is $590-630, which is more relaxed than last week. In addition to a steel mill that cut its price by $10 due to weaker domestic trade, at least three major steel mills have raised export offers by $10-20. Due to the increase in Chinese prices and the imminent arrival of Ramadan, Asian market demand is sluggish this week and may remain weak until July. Asian customers had a counter-offer at $585 FOB this week.

Wire Rod

This week, both the alloy and non-alloy wire maintained their last week’s gains at $560-565 FOB, with traders taking the goods at this price point. Foreign buyers followed up, Philippines trading range increased from $565 to around $570 CFR, South Korea also traded at $570 CFR, Vietnam local wire price is $580.

Square Billet

China domestic steel export quotation for this week held steady at $540-545 FOB, but the spread price to overseas buyers is still large. In the Philippines, there are $550 CFR small-size high-manganese resources traded, third-country resources Russia billets are steadily reported at around $510-515 FOB, and Iranian billets are offered at $525-530 CFR to Indonesia and Thailand.

 

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