China Steel Price Updated on 3th, May, 2018



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04 May 18
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HRC SS400, FOB China $589

Rebar B500B, FOB China $535

CRC SPCC, FOB China $621

HDG SGCC, FOB China $689

Wire Rod SAE1008, FOB China $565

Hot Rolled Steel Plate A36, FOB China $615

H Beam Q235, FOB  China $608

Square Bars Q235, FOB China $537

Hot Rolled Steel Coil

This week due to holiday factors, the trading day was limited. Although the domestic trade market rose sharply before the holiday, the export market remained silent. Only a few steel mills sold a small amount of hot-rolled steel coils around $605 FOB. Mainstream steel mill’s SS400 HRC offers are offered at $590-605 FOB, which is basically the same as before the holiday. Due to the declining steel stocks, steel mills are mostly optimistic about the short-term outlook.

Rebars

This week, China domestic trade sales have also pushed up export prices, and the mainstream week-on-week increase of $15 to $565 FOB adjusted. Some factories have concentrated on domestic trade sales and suspended export quotation. Hong Kong and Singapore customers have not yet followed up the increase, and the price of interest remained unchanged at $520-525 FOB before the holiday. Turkey’s resources offer $560-565 FOB.

Cold Rolled Steel Coil

The overall upward movement of the domestic trade market this week boosted export prices, but the post-holiday opening time was still short. Overseas customers were mainly wait-and-see and the volume was light. The mainstream steel mills’ SPCC coils are offered at $625-640 FOB, which is an increase of $5-10 from the previous week. Some mills will be open next week. Before the holiday, there was a base price of around $620 FOB, and there was no heard about cold turnover after the holiday.

Hot Dipped Galvanized Steel Coil

The export price of galvanized steel in China this week was stable. Some steel mills’ export prices increased by 5-10% from the pre-holiday prices. The remaining prices were maintained last week, but few transactions took place. This week, the SGCC 1.0mm Z120 zero spangle galvanized steel offer ranged from $690-703 FOB, unchanged from last week. With weak global demand, post-holiday enquiries were sparse and there were sporadic counters at $680-685 FOB. The domestic demand for galvanized steel has a higher profit margin, which has led steelmakers to prefer domestic sales. A northern steel mill has stopped exporting prices. In addition, affected by anti-dumping, Vietnam and India’s resources occupied part of the Chinese export market, and China’s galvanized exports were blocked. It is expected that the situation of declining turnover will continue.

Hot Rolled Steel Plate

The medium steel plate price rose for the third consecutive week, and overseas buyers began to follow suit. South Korean buyers were the most active this week, with nearly 10,000 tons of medium steel plate trading at a base price of $615 FOB. In addition, South America is still charging around $610 FOB.

H Beams

Driven by strong domestic demand, China’s H-beam export index rose again this week. Most mills raise prices by $5-10, and the mainstream offer range is $610-640, which is significantly higher than last week’s $590-630. Hebei Steel continued to raise the ex-factory prices after the holiday, and the East China Steel Works has oversold H-beams for May delivery in April.

Wire Rods

The strong rise in China domestic wire rods has driven factories to significantly increase their export prices. The prices of alloy wire are quoted at $575-590 FOB and non-alloy wire is $580-585 FOB. However, the overall transanction was seldom, traders did not take goods actively, and overseas buyers temporarily failed to keep up with the pace of domestic price increases. Alloy resources were traded to the Philippines at $575 CFR.

Square Beams

This week, domestic billet prices rose steadily, and square beams intentional export prices also rose by $10 to $550-555 FOB from pre-holiday levels. After continuous price increases in recent weeks, China’s resources is hopeless for export, and some exporters suspend their offers.

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Fiona.yu@sinowellmetal.com

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