News Room - Steel Prices

Posted on 04 Aug 2011

Steel price report as of August 4, 2011

Scrap

-          China's Nanjing Iron & Steel raised its (>6mm thick) scrap buying prices by RMB 30-70 per tonne ($5-11) on 3 August – source: SBB

-          Shagang subsidiary Huaigang Special Steel lifted its buying prices for scrap to RMB 3,820 per tonne from RMB 3,770 per tonne per tonne – source: SBB

-          Korea's Dongkuk Steel booked one 48,000 tonne scrap cargo from the US at $494 per tonne CFR for HMS 1 for end –August shipment – source: SBB

Semis

-          South East Asian billet exporter increased offers to re-rollers and traders on the Persian Gulf but order prices have been unchanged. Offers from Japan and Korea was concluded at $710-720 per tonne CFR – source: MB

Bar

-          US rebar price rose to around $720-740 per short ton FOB – source SBB

HRC

-          Indian HRC producers are to raise domestic base prices by RS750 per tonne ($16.9) in coming days – source: SBB

-          US sport HRC prices fell further to $640-660 per short ton and is claimed to be lower than production cost – source: SBB

-          Offer prices for HRC from Asian countries into the Persian Gulf increased by $10 per tonne to $740-750 per tonne – source: MB

-          HRC offer from main supplier in China to Vietnam up by $5 per tonne to $720-730 per tonne CFR – source: MB