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Chinese steel prices may rise in May
05.06Chinese domestic steel prices may see a new round of increases, mainly supported by better-than-expected fundamentals and the macroeconomic environment, although market caution may trigger a possible moderate downward correction.
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BREAKING NEWS: China decides to remove rebate on steel products
04.29On April 28th, the Ministry of Finance website issued an announcement on the cancellation of export tax rebates for some steel products. From May 1st, 2021, the export tax rebates for some steel products will be cancelled. The specific execution time shall be defined by the export date indicated on the export goods declaration form.
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Chinese steel prices surge, sales up
04.06The steel prices in Chinese domestic market jumped over March 29th-April 2nd, as the demand especially for long steel products had strengthened significantly with all construction works across the country now in full swing. The national HRB400E 20mm dia steel rebar price surged 203 Yuan/Ton (31 $/Ton) on week to 5,015 Yuan/Ton including the 13% VAT as of April 2nd or an over nine-year high. The trading volume of construction steel including rebar among the country's 237 traders averaged 277,595 Ton/day over March.
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Chinese steel prices wildly fluctuate
03.15Chinese steel market sentiment and prices were susceptible over March 8th-12th, going through a V-shaped pattern, as later last week, the intensified restrictions on the steel operations in Tangshan, North China’s Hebei province, while the spiral-up in steel demand, lent support to the domestic steel prices
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Chinese HRC prices wobble, output steady
02.02The prices of hot-rolled coil (HRC) in China’s physical market had been with modest volatility in the last week of January, and the spot trading slipped with the Chinese New Year (CNY) holiday coming closer, though the market sentiment has remained optimistic and output stayed stable, as the demand may revive faster than usual after the CNY, according to market sources. As of January 29th, China’s price of Q235 4.75mm HRC recovered 9 Yuan/Ton (1.4 $/Ton) on week to 4,512Yuan/Ton including the 13% VAT, while “the actual trading softened further lately, as not only traders, but also the end-users have shown very little interest in stocking up any HRC,”
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Chinese rebar price inches up, sales slip further
01.28On January 27th, Chinese rebar price inched up for the second day by another 4 Yuan/Ton (0.6$/Ton) on day, while the domestic spot sales of construction steel including rebar, wire rod and bar-in-coil decreased for the fourth day though still at a 10-month low level, down another 7.1% on day.