Company News

• Chinese demand of stainless steel valve, stainless steel flange and stainless steel pipe fitting pushes up Asian billet prices

  2021 / 09 / 11

  With the effective management and control of the epidemic, China returned to the market and demand increased, and the import prices of Southeast Asian steel ingots were affected and rose again. This increase is related to the expected cut in China's steel production and the increase in coking coal prices. According to a Hong Kong trader, recent transactions of 150mm 3sp ASEAN billet were priced at US$685-688 per ton CFR China, including billet from a blast furnace plant in Indonesia. Another person heard that Russia`s 20,000-ton billet is priced at around US$675/ton CFR, while Vietnam`s billet is priced at US$690/ton CFR in China. The current quotation of ASEAN and Zhongdongfang billet in China is US$690/ton CFR. A Chinese trader stated that his offer for billet from India and Iran was US$680/ton CFR, and that of ASEAN billet early last week was US$680-685/ton CFR. Traders heard that 40,000 tons of 130mm billets and 10,000 tons of 160mm billets from Brazil were pre-ordered at the beginning of this week at US$668/ton CFR China. A trader in the region said that the rise in China's steel prices is related to the rise in the coking coal market. "Coking coal is expensive; I think China is considering importing cast iron again," he added. The increase in steel demand in China has led to an increase in steel manufacturing products such as stainless steel valve, stainless steel flange and stainless steel pipe fitting. At the same time, in Manila, a leading Vietnamese steel mill sold blast furnace billet at a price of US$700/ton CFR. An importer stated that the price of 5sp billet in Vietnam is US$680-690/ton CFR, and the price of 125mm 5sp billet in Russia is US$685-690/ton CFR. Some information indicates that the price of billets for electric arc furnaces and 5sp blast furnaces in Vietnam is still $675-680/t cfr in Manila. Except for the Russian 100mm billet sold in Manila on August 30 at a price of

• From March 2022, all imported goods including valves and pipe fittings in Egypt must meet European standards

  2021 / 09 / 09

  Yesterday, Egyptian President Sisi emphasized when inspecting the Alexandria Sea Port expansion project that from March 2022, all imported goods must meet European standards. Fuyou Comments: Egypt is a bit crazy now. The implementation of ACID in October has brought a lot of cumbersome steps to import and export. If you add European standards, it will be even worse. What is the cargo pre-inspection information system ACID? Advance Cargo Information System (ACI=ACID) Cargo Pre-inspection Information (ACID) is a new customs system that requires cargo data and documents (commercial invoice and final or initial bill of lading) to be provided at least 48 hours before the goods are shipped from the exporting country, so that stakeholders can pass the risk management system (RMS) monitors any risks faced by the country, with the safety of Egyptian citizens as the highest priority. Forward from http://bbs.FOBShanghai.com