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China’s Metal Market: Import Iron Ore Prices and Trading Both Rise

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China’s rebar price dips despite a spike in sales

China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment declined for the fourth working day on April 26, down Yuan 13/tonne ($2/t) on day to Yuan 5,047/t including the 13% VAT, despite a 33.4% on-day surge in spot sales of construction steel.

China’s import iron ore prices, trading both rise

Imported iron ore prices in China’s portside and seaborne cargo markets recovered on April 26, with trading for port stocks being more active.

China steel FOB prices fall faster, buyers watch

China’s steel export prices have declined faster from April 21 to April 27 amid poorer sales, both at home and abroad, and the weakening Chinese Yuan against the US dollar. Overseas buyers held back buying, expecting prices to fall further in the near term, according to Mysteel’s latest weekly report.

China’s rebar output inches down, sales still low

China’s rebar production among 137 steel mills under Mysteel’s tracking decreased for the second week over April 14-20, down by a tiny 0.1% or 2,900 tonnes on week to hover around 3.07 million tonnes, though the output volume was still 14.9% lower than the same corresponding period of last year. Survey respondents cited production rein-in among some steelmakers amid pandemic-related logistics disruptions, thin profits, and flat demand.

China’s HRC output grows for 3rd week to 3 mln t

Over April 14-20, total production of hot-rolled coil (HRC) among 37 Chinese flat steelmakers under Mysteel’s tracking gained for the third week, mainly as steel mills in Southwest China resumed operations last week, market sources shared.

China aluminum supply up, prices soften

China’s domestic market is seeing supplies of primary aluminum ingot gradually increase, with prices fluctuating down over the past week, according to market sources on April 26.

Source from mysteel.net

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