(ARGUS) FOB China HRC –
The index was unchanged last Friday (13.8.21) at US$928/t, MTD US$928.44/t.
China’s iron and steel association Cisa was heard to collect suggestions from some Chinese mills on the country’s 2022 import and export tax adjustments before 17 August, participants said. They were unclear whether it means China may not impose steel export tax for the reminder of this year.
Vietnamese mills are facing subdued demand from strict lockdown measures extended to 15 September in Ho Chi Minh City. Local re-rollers’ export orders also decreased to the US and EU as buyers there for downstream steel products including hot-dipped galvanized steel are requiring Vietnamese sellers to cut prices amid the falling trend. Vietnam-based mill Formosa Ha Tinh cut its October shipment monthly offers by $15/t to $950-970/t cif Vietnam for SAE grade coils depending on the buyer and port.
LME HMS
flat at 455 on this deal to IDC on Friday. No other vessel sales reported
Cronimet- IDC
$455 for 18,5k 80:20
$470 for 5k shred
$470 for 1,5k bonus
Heard done Friday
LME Rebar
lower to 692.50 basis lower import prices (see HMS above) maintaining Turkish mill spread at ~235-240/t
| Product | HRC Midwest CRU | HR/HRC | |
| Exchange | CME | 20 NT | |
| Period | Bid | Offer | Midpoint |
| AUG 21 | 1875 | 1895 | 1885 |
| SEP 21 | 1890 | 1925 | 1908 |
| OCT 21 | 1785 | 1820 | 1803 |
| NOV 21 | 1695 | 1730 | 1713 |
| DEC 21 | 1630 | 1665 | 1648 |
| JAN 22 | 1590 | 1625 | 1608 |
| FEB 22 | 1550 | 1585 | 1568 |
| MAR 22 | 1450 | 1485 | 1468 |
| APR 22 | 1390 | 1430 | 1410 |
| MAY 22 | 1370 | 1410 | 1390 |
| JUN 22 | 1315 | 1355 | 1335 |
| JUL 22 | 1220 | 1260 | 1240 |
| Aug-Sep21 | 1883 | 1910 | 1896 |
| Q421 | 1703 | 1738 | 1721 |
| Aug-Dec21 | 1775 | 1807 | 1791 |
| Q122 | 1530 | 1565 | 1548 |
| Q222 | 1358 | 1398 | 1378 |
| Q322 | 1220 | 1260 | 1240 |
| Cal22 | 1303 | 1341 | 1322 |
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| Product | HRC NW Europe | EHR | |
| Exchange | CME | €/MT | |
| Period | Bid | Offer | Midpoint |
| AUG 21 | 1140 | 1170 | 1155 |
| SEP 21 | 1090 | 1130 | 1110 |
| OCT 21 | 1070 | 1110 | 1090 |
| NOV 21 | 1050 | 1090 | 1070 |
| DEC 21 | 1030 | 1070 | 1050 |
| JAN 22 | 1010 | 1055 | 1033 |
| FEB 22 | 950 | 990 | 970 |
| MAR 22 | 900 | 935 | 918 |
| APR 22 | 880 | 915 | 898 |
| MAY 22 | 860 | 895 | 878 |
| JUN 22 | 850 | 885 | 868 |
| JUL 22 | 840 | 875 | 858 |
| Aug-Sep21 | 1115 | 1150 | 1133 |
| Q421 | 1050 | 1090 | 1070 |
| Aug-Dec21 | 1076 | 1114 | 1095 |
| Q122 | 953 | 993 | 973 |
| Q222 | 863 | 898 | 881 |
| Q322 | 840 | 875 | 858 |
| Cal22 | 859 | 896 | 877 |
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||
| Product | HDG Premium | HDG | |
| Exchange | CME | $/NT | |
| Period | Bid | Offer | Midpoint |
| AUG 21 | 215 | 235 | 225 |
| SEP 21 | 218 | 238 | 228 |
| OCT 21 | 219 | 239 | 229 |
| NOV 21 | 220 | 240 | 230 |
| DEC 21 | 220 | 240 | 230 |
| JAN 22 | 220 | 240 | 230 |
| FEB 22 | 220 | 240 | 230 |
| MAR 22 | 220 | 240 | 230 |
| APR 22 | 220 | 240 | 230 |
| MAY 22 | 220 | 240 | 230 |
| JUN 22 | 220 | 240 | 230 |
| JUL 22 | 220 | 240 | 230 |
| Aug-Sep21 | 217 | 237 | 227 |
| Q421 | 220 | 240 | 230 |
| Aug-Dec21 | 218 | 238 | 228 |
| Q122 | 220 | 240 | 230 |
| Q222 | 220 | 240 | 230 |
| Q322 | 220 | 240 | 230 |
| Cal22 | 220 | 240 | 230 |
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| Product | Midwest Busheling | BUS | |
| Exchange | CME | 20 GT | |
| Period | Bid | Offer | Midpoint |
| SEP 21 | 630 | 655 | 643 |
| OCT 21 | 635 | 660 | 648 |
| NOV 21 | 640 | 665 | 653 |
| DEC 21 | 645 | 675 | 660 |
| JAN 22 | 642 | 672 | 657 |
| FEB 22 | 640 | 670 | 655 |
| MAR 22 | 635 | 665 | 650 |
| APR 22 | 630 | 660 | 645 |
| MAY 22 | 625 | 655 | 640 |
| JUN 22 | 615 | 645 | 630 |
| JUL 22 | 605 | 635 | 620 |
| AUG 22 | 595 | 626 | 611 |
| Sep-Oct21 | 633 | 658 | 645 |
| Q421 | 640 | 667 | 653 |
| Sep-Dec21 | 638 | 664 | 651 |
| Q122 | 639 | 669 | 654 |
| Q222 | 623 | 653 | 638 |
| Q322 | 600 | 631 | 615 |
| Cal22 | 611 | 641 | 626 |
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| Product | Midwest Shredded | SHR | |
| Exchange | CME | 20 GT | |
| Period | Bid | Offer | Midpoint |
| SEP 21 | 473 | 493 | 483 |
| OCT 21 | 475 | 495 | 485 |
| NOV 21 | 475 | 495 | 485 |
| DEC 21 | 475 | 495 | 485 |
| JAN 22 | 474 | 494 | 484 |
| FEB 22 | 472 | 492 | 482 |
| MAR 22 | 470 | 490 | 480 |
| APR 22 | 465 | 485 | 475 |
| MAY 22 | 460 | 480 | 470 |
| JUN 22 | 455 | 475 | 465 |
| JUL 22 | 453 | 473 | 463 |
| AUG 22 | 450 | 470 | 460 |
| Sep-Oct21 | 474 | 494 | 484 |
| Q421 | 475 | 495 | 485 |
| Sep-Dec21 | 475 | 495 | 485 |
| Q122 | 472 | 492 | 482 |
| Q222 | 460 | 480 | 470 |
| Q322 | 452 | 472 | 462 |
| Cal22 | 441 | 461 | 451 |
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| Product | HRC Mill Spread | BUS/HRC | |
| Exchange | CME | Spread | |
| Period | Bid | Offer | Midpoint |
| SEP 21 | 1235 | 1295 | 1265 |
| OCT 21 | 1125 | 1185 | 1155 |
| NOV 21 | 1030 | 1090 | 1060 |
| DEC 21 | 955 | 1020 | 988 |
| JAN 22 | 918 | 983 | 951 |
| FEB 22 | 880 | 945 | 913 |
| MAR 22 | 785 | 850 | 818 |
| APR 22 | 730 | 800 | 765 |
| MAY 22 | 715 | 785 | 750 |
| JUN 22 | 670 | 740 | 705 |
| JUL 22 | 585 | 655 | 620 |
| Sep-Oct21 | 1235 | 1295 | 1265 |
| Q421 | 1130 | 1190 | 1160 |
| Sep-Dec21 | 1130 | 1190 | 1160 |
| Q122 | 918 | 983 | 950 |
| Q222 | 743 | 812 | 778 |
| Q322 | 628 | 698 | 663 |
| Cal22 | 743 | 811 | 777 |
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| Product | HRC FOB China | HC/LCY | |
| Exchange | LME | 10 MT | |
| Period | Bid | Offer | Midpoint |
| AUG 21 | 925 | 945 | 935 |
| SEP 21 | 930 | 950 | 940 |
| OCT 21 | 935 | 955 | 945 |
| NOV 21 | 936 | 956 | 946 |
| DEC 21 | 936 | 956 | 946 |
| JAN 22 | 934 | 954 | 944 |
| FEB 22 | 933 | 953 | 943 |
| MAR 22 | 925 | 945 | 935 |
| APR 22 | 923 | 943 | 933 |
| MAY 22 | 920 | 940 | 930 |
| JUN 22 | 920 | 940 | 930 |
| JUL 22 | 920 | 940 | 930 |
| Aug-Sep21 | 928 | 948 | 938 |
| Q421 | 936 | 956 | 946 |
| Aug-Dec21 | 932 | 952 | 942 |
| Q122 | 931 | 951 | 941 |
| Q222 | 921 | 941 | 931 |
| Q322 | 920 | 940 | 930 |
| Cal22 | 905 | 925 | 915 |
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| Product | LME STEEL REBAR | SR/JBP | |
| Exchange | LME | 10 MT | |
| Period | Bid | Offer | Midpoint |
| AUG 21 | 690 | 710 | 700 |
| SEP 21 | 695 | 715 | 705 |
| OCT 21 | 705 | 725 | 715 |
| NOV 21 | 710 | 730 | 720 |
| DEC 21 | 710 | 730 | 720 |
| JAN 22 | 715 | 735 | 725 |
| FEB 22 | 705 | 725 | 715 |
| MAR 22 | 700 | 720 | 710 |
| APR 22 | 695 | 715 | 705 |
| MAY 22 | 690 | 710 | 700 |
| JUN 22 | 690 | 710 | 700 |
| JUL 22 | 690 | 710 | 700 |
| Aug-Sep21 | 693 | 713 | 703 |
| Q421 | 708 | 728 | 718 |
| Aug-Dec21 | 702 | 722 | 712 |
| Q122 | 707 | 727 | 717 |
| Q222 | 692 | 712 | 702 |
| Q322 | 690 | 710 | 700 |
| Cal22 | 678 | 698 | 688 |
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| Product | HMS CFR Turkey | SC/JBO | |
| Exchange | LME | 10 MT | |
| Period | Bid | Offer | Midpoint |
| AUG 21 | 455 | 465 | 460 |
| SEP 21 | 460 | 470 | 465 |
| OCT 21 | 460 | 470 | 465 |
| NOV 21 | 465 | 475 | 470 |
| DEC 21 | 475 | 485 | 480 |
| JAN 22 | 480 | 490 | 485 |
| FEB 22 | 474 | 484 | 479 |
| MAR 22 | 467 | 477 | 472 |
| APR 22 | 462 | 472 | 467 |
| MAY 22 | 459 | 469 | 464 |
| JUN 22 | 458 | 468 | 463 |
| JUL 22 | 456 | 466 | 461 |
| Aug-Sep21 | 458 | 468 | 463 |
| Q421 | 467 | 477 | 472 |
| Aug-Dec21 | 463 | 473 | 468 |
| Q122 | 474 | 484 | 479 |
| Q222 | 460 | 470 | 465 |
| Q322 | 456 | 466 | 461 |
| Cal22 | 445 | 455 | 450 |