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 $675-680/t cfr, no other transactions were made in Manila because of very low demand.
Source: satthep.net
,
