Chinese Domestic Steel Market Update, 29 Jul’19
Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian‘an was settled at RMB 3,650/MT, up RMB 10. Today, the steel market is weak, and the prices of finished products trend lower. Mill direct sales are insufficient. The ex-warehouse spot is around RMB 3,700/MT tax-included with a few transactions.
The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 303,100 MT, an increase of 8,800 MT from last Friday. The mainstream price of finished products is slightly reduced, and the overall transaction is plain. It is expected that the billet will drop by RMB 10 in the afternoon.
Construction steel: The price of construction steel in Tangshan market fell by RMB 30-70, to see the current market price of HRB 400 of big specification being at RMB 3,870/MT, small specification at RMB 4,030/MT, while coiled rebar at RMB 4,170/MT. Transactions are plain.
HRC: The price of flat sheet is down by RMB 10 and general carbon flat sheet of 1,500 mm by first-tier mill is at RMB 3,870/MT, second-tier mill at RMB 3,860/MT while Q 345 flat sheet at RMB 4,040/MT. Transactions are moderate.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
