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11 March 2010
HDG offers have moved up again in China as confidence for a demand recovery grows.
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15 February 2010
Chinese exporters saw a downward price correction at the end of January, thanks to high stock levels.
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22 January 2010
Spot prices over the month have steadily moved up in line with CR coil, although continue to be priced in line with, rather than significantly above, the primary substrate.
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06 January 2010
Regional prices gained from higher Chinese prices.
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20 November 2009
Spot market pricing for Chinese HR coil can not at present be explained solely by the dynamics of supply and demand. MBR believes that spot pricing for HR coil has lately been taking its cue from the fast-growing Chinese futures market. In this breaking view, MBR considers how this relationship has developed and what its short-term implications are.
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18 November 2009
Regional galvanised prices in November have come off October lows.
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03 November 2009
Chinese export prices for HDG have been rising of late, and we expect this trend to continue through to the end of the year, but how will this impact on the level of export tonnages?
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16 October 2009
In the short term, we do not think domestic demand is enough to deter the high levels of exports, as traders and steel makers report volumes of exports have continued to rise since late August, with cargoes largely going to Europe. The relative weakness of HRC prices to HDG means that exporting HDG is still reasonable for mills.
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30 September 2009
Export activity from Chinese mills has increased in the last month, as they remain the most competitively priced material in the Asian market. We understand Anshan sold around 30,000 tonnes for export this month, while Handan Steel sold around 20,000 tonnes
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31 August 2009
Export prices of Chinese HDG are showing signs of weakness with offers at around $650/tonne fob, which is around 9% lower than July prices.
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31 July 2009
Mills are pushing up their list prices for future deliveries, implying that traders and stockists are likely to push up their spot prices in order to liberate cash to place fresh orders. Yet anecdotal evidence suggests that end users are more reluctant to pay higher prices then was the case around a month ago.
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08 July 2009
China’s largest steelmakers have reportedly agreed to a 33% reduction in benchmark iron ore fines prices for the first half of the 2009-2010 financial year (April-October). The reduction is far less than the 40-45% price cut that Chinese mills have been demanding since late last year when international steel prices collapsed.
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02 July 2009
Macroeconomists have been readjusting their forecasts of Chinese GDP growth in 2009 as it becomes clear that the Chinese government’s stimulus plan has had far-reaching effects over the previous two quarters.
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29 June 2009
Chinese prices buoyed by construction, auto production
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01 June 2009
Stimulus plans taking effect
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30 April 2009
Despite plans by mills to slash production, oversupply remains a concern
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31 March 2009
Exports to Europe and US remain soft