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
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
