Posted on 15 Sep 2014
Steel Prices in China
Long steel
Construction steel prices continued to decline, the average price of 6.5mm Q235 high speed wire rod and 20mm HRB400 rebar fell by 10 yuan per tonne and 5 yuan per tonne from the previous trading day to 2,963 yuan per tonne and 2,940 yuan per tonne respectively on Friday – source: SteelHome
Flat steel
The average price of 2.75mm HRC in China market fell by 8 yuan per tonne from the previous trading day to 3,322 yuan per tonne on Friday; that of 1.0mm CRC moved down by 4 yuan per tonne to 4,060 yuan per tonne – source: SteelHome
The average price of 8mm medium plate in China market reached 3,530 yuan per tonne on Friday, down by 10 yuan per tonne from the previous trading day – source: SteelHome
Steel Prices in Other Countries
Scrap
The Steel Index’s reference price for Turkish imports of 80:20 averaged $382/mt CFR last week, but the daily price ended the week at $379/mt after Friday’s fall – source: Platts
A steel producer in the Iskenderun region booked a US cargo, comprising 37,000 tonnes of HMS 1&2 (80:20) at $375 per tonne and 8,000 tonnes of P&S (plate and structural) at $385 per tonne cfr, on September 10 – source: MB
Semis
Platts daily billet price assessment slipped $2.5/mt to $505/mt FOB Black Sea – source: Platts
Bar/Wire rod
AMM's price assessment for imported rebar was unchanged at $590-610 per short ton into Houston, although most market participants said they expect an eventual $20-per-ton price decline – source: MB
Feng Hsin, one of the major steel longs producers in Taiwan, announced to keep rebar and steel section price flat but cut scrap purchasing price by NT$200/MT for this week. After the announcement, Feng Hsin's new rebar base price will stay at NT$17,900/ton, its steel section base price will be at NT$19,700~NT$19,900/ton and its scrap purchasing price is about NT$10,500~NT$11,400/ton – source: Yieh
HRC/P
A Vietnamese end-user ordered 7,000 mt of SS400, 2.3mm coil produced by Benxi Iron & Steel at $525/mt CFR Vietnam for November shipment – source: Platts
Chinese domestic HRC prices continued to fall due to weak demand and market sentiment, with Platts assessing Q235 5.5mm HRC prices at Yuan 2,950-2,980/metric ton ($480-484/mt), down Yuan 10/mt from Thursday and Yuan 90/mt on week – source: Platts
Turkish import prices for the HRC rose to $560-565 per tonne cfr from last week's $559-560 per tonne cfr – source: MB
