International Steel Prices

Update from China: Iron Ore, Futures, Export Price Offers
Written by John Packard
August 8, 2017
On Monday, the futures markets surged 7 percent in China. We reached out to one of our trading contacts in China to see what we could learn about physical steel trading prices into the export markets out of China:
Future’s market jumped 7% yesterday but only on Hot Money influx. Spot market was up RMB15 per metric ton on Debars [rebar] and Ore respectively, a mere USD2.15 per metric ton (MT).
China government has implemented a 50% cutback in Steel production till Mid Oct for those mills in Northern China due to political reasons, International conferences etc.., typical this time of the year.
If you recall, I advise you of the high port stocks on iron ore, 130 million MTS +++.
Current prices for End September delivery:
HRC: USD500-505/metric ton (MT) fob Stowed [$551.15 to $556.67 per net ton]
HRP&O: USD510-515/MT fob st [$562.18 to $567.69 per net ton]
CRC: USD600-605/mt fob st [$661.39 to $666.90 per net ton]
GI: USD655-660/mt fob st [$722.01 to $727.52 per net ton]
EG: USD670/mt fob st [EG = Electro Galvanized $738.55 per metric ton]
CRGO: USD775/mt fob st [Grain Oriented $854.29 per net ton]
John, above price on HR side is Base 2.3mm [.905”] thickness and CRC and Coated on 0.9mm [.0354”] Base.

John Packard
Read more from John PackardLatest in International Steel Prices

Doubled S232 lifts EU, Japanese CR prices over US tags
US cold-rolled (CR) coil prices edged up again this week, and most offshore markets moved in the opposite direction. But the diverging price moves stateside vs. abroad did little to impact pricing trends. The bigger impact was from Section 232, which were doubled to 50% as of June 3. The higher tariffs have resulted in […]

CRU: Sheet demand remains weak, tariff changes again alter markets
Subdued demand has continued to weigh on steel sheet prices globally.

Higher S232 keeps US HR prices at a discount to EU
Domestic hot-rolled (HR) coil prices edged up marginally again this week, while offshore prices ticked down.

Doubled S232 drives EU HR price over US, Asian HR still behind
Domestic hot-rolled coil prices edged up marginally this week, while offshore prices ticked down.

US and offshore HRC prices tick lower
Domestic hot-rolled coil prices moved lower again, maintaining the downward move seen in eight of the last 10 weeks.