International Steel Prices
Chinese HRC and Plate Export Offers & Iron Ore
Written by John Packard
September 9, 2014
On Monday Steel Market Update received information from one of our trading sources in Asia regarding the iron ore situation and price offers for export on rebars (debars), hot rolled (Europe) and plate (Europe).
Ore Port Stocks at 110.95 Million MTS on Friday and an increase of 320,000mts week on week.
Many large State Owned Corporations who also conduct Futures Trading are pegging Iron Ore at USD80/mt CNF FO or slightly below in Mid/End October John.
As for Steel, a lot of activity on Debars and Wire Rods these days and price are at USD455/mt FOB ST. LSD for Debars including 15% – 10mm diameter in BS4449 Gr. 460 (460 = Min. Yield) and BS is British Standard. For Wire Rods, USD460/mt FOB ST. LSD and 6.5mm and up.
Flat products have become a Dead Market, and HRC 2.5mm is at USD505/mt FOB ST. LSD (Commercial Quality), but no takers and Plate is at USD515/mt FOB ST. LSD for 12mm and up (100mm Max.) in Thickness and widths 2000/2500/3000mm and S235JR/S275JR qualities (The 235/275 meaning Min. Yield).
GI and CRC markets no prices offered as no enquiries…
SMU Note: HRC at $505 per metric ton is $458 per net tons ($22.90/cwt). Chinese hot rolled is not allowed into the United States. The plate price of $515 per metric ton equates to $467 per net ton. As an aside, #1 busheling scrap is selling for approximately $395-$400 per gross ton in the Chicago area.
There was much conversation at our Steel Summit Conference last week regarding the difference between Chinese pricing and domestic prices. Roger Schagrin reported the delta as being $300 per ton.
John Packard
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