By Vibin Antony
Chinese spot steel prices advanced further last week, while steel and stainless steel scrap prices showed a mixed trend.
According to The Steel Index, Chinese steel prices continued their upswing, albeit more modestly, with billet in the Tangshan region firming RMB 10 a ton and spot rebar in both Beijing and Shanghai rising RMB 30a ton.
Rebar futures in Shanghai also rose slightly, but the DCE iron ore futures were down 0.44%. Despite stronger steel, spot iron ore activity died down ahead of the weekend.
However, an Australian miner sold 61.3% Fe and 57.3% Fe fines via private negotiation at slightly better levels than Thursday. The trading screens were quiet.
At ports in Tangshan, traders cut their offers for imported ore sold on an RMB/wmt basis. All prices US$/dmt CFR China unless stated otherwise.
The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 316 SS were unchanged on Scrap Register US Price Index last week, while steel scrap commodities like Mix Steel Scrap and #1 HMS traded down.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
Chinese spot steel prices advanced further last week, while steel and stainless steel scrap prices showed a mixed trend.
According to The Steel Index, Chinese steel prices continued their upswing, albeit more modestly, with billet in the Tangshan region firming RMB 10 a ton and spot rebar in both Beijing and Shanghai rising RMB 30a ton.
Rebar futures in Shanghai also rose slightly, but the DCE iron ore futures were down 0.44%. Despite stronger steel, spot iron ore activity died down ahead of the weekend.
However, an Australian miner sold 61.3% Fe and 57.3% Fe fines via private negotiation at slightly better levels than Thursday. The trading screens were quiet.
At ports in Tangshan, traders cut their offers for imported ore sold on an RMB/wmt basis. All prices US$/dmt CFR China unless stated otherwise.
The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 316 SS were unchanged on Scrap Register US Price Index last week, while steel scrap commodities like Mix Steel Scrap and #1 HMS traded down.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
No comments:
Post a Comment