Posted on 22 Jun 2011
Scrap
- Chinese domestic scrap buying price down by RMB30 per tonne ($5). Heavy melting scrap (>6mm) to RMB 3,770 per tonne ($583) with 17% VAT – source: SBB
Semis
- Three-month steel billet on the LME fell by $5 per tonne to $550-555 per tonne – source: MB
Bar
- Shagang Group cut its rebar & wire rod price by 80 Yuan per tonne ($12). It now sells grade III rebar of 16-25mm diameter at 5,020 Yuan per tonne – source: MB
- Taiwanese rebar producers continue to raise rebar price by TWD 200 per tonne ($7) – source: SBB
Hot rolled coil prices
- Japan offers of re-rolling HRC dropped by $30. The spot offer of rerolling HRC to Vietnam was $720-730 per tonne CFR – source: MB
