Posted on 15 Oct 2014
Steel Prices in China
Long steel
On Beijing?ˉs retail market Tuesday, the spot price for 18-25mm diameter HRB400 rebar was assessed at Yuan 2,700-2,710/metric ton ($441-442/mt) actual weight and including 17% VAT, up by Yuan 15/mt ($4/mt) from Monday ¨C source: Platts
Wugang will cut wire rod prices by RMB100/ton and reduce RMB50/ton for cold drawn cold rolled steel coil ¨C source: Yieh
Flat steel
Top-tier Chinese mills have generally held to prices of around $550/mt FOB for SPCC 1.0mm CRC, while material from second-tier mills could be negotiable to around $545/mt FOB ¨C source: Platts
Steel Prices in Other Countries
Scrap
Japan?ˉs Tokyo Steel announced to cut its scrap purchasing prices again by ￡¤1,000/ton from October 15th. After the adjustment, its H2 scrap purchasing prices averaged at ￡¤30,000~￡¤31,500/ton. ¨C source: Yieh
Semis
Standard local billet prices currently vary between $485-520/mt ex-works after Kardemir?ˉs significant price cut. Black Sea mills were offering to Turkey around at $500/mt CIF, while Chinese material was at as low as $470/mt CIF ¨C source: Platts
Platts assessed CIS-origin billet at $475/mt FOB Black Sea Tuesday, down $2.50/mt ¨C source: Platts
Bar/Wire rod
A booking of rebar was made from Turkey at $550 per tonne cfr, and another cargo was booked from China at $480 per tonne cfr ¨C source: MB
HRC/P
US HRC remains level at $645-655/st ¨C souce: Platts
Plate CIF US gulf coast price unchanged at 740-760 USD per tonne
