FOB China HRC
The index kept flat yesterday (16.9.21) at US$909/t, MTD US$909/t.
Three major construction steel mills in Jiangsu province were heard to be expanding output cuts to 30pc for the rest of September, and a private mill shut down all its three blast furnaces for the rest of the month with no resumption date given. Jiangsu electric arc furnace mills have cut output by as much as 70pc this month to reduce energy consumption. Some mills in Zhejiang province are planning to increase output cuts to 50pc in September. Mills in Shandong province are planning to cut 350,000t construction steel output in September and October.
China iron and steel association (Cisa) member mills slowed crude steel output slightly to 2.0449mn t/d over 1-10 September. Survey date indicates cuts deepened mid-month. Weekly output for five major Chinese steel products including HRC fell by 370,000t, or 3.6pc to 9.78mn t over last week, market participants said.
An Indian mill was reported to have sold 60,000t SAE1006 grade coils at $890/t cfr Vietnam this week. Those coils sold to two large Vietnamese re-rollers or a large local stockiest. Most other Vietnamese buyers were not active in placing orders, even as offers were much lower at $870-880/t cfr Vietnam for Russian SAE1006 grade coils. (Argus)
Turkish Scrap
Near-term price direction likely to be largely flat
Mills cite concerns over electricity costs, finished steel demand
Turkish deepsea import ferrous scrap prices were unchanged Sept. 16, as mills stepped back following a flurry of bookings earlier in the week, sources said. S&P Global Platts assessed Turkish imports of premium heavy melting scrap 1/2 (80:20) Sept. 16 at $441/mt CFR, unchanged on day. “I think for a while, we might see the prices sideways for scrap, but finished products are another issue which is worrying people – I still feel negative sentiment in the final product market,” a Turkish mill source said, citing an indicative tradable value for premium HMS 1/2 (80:20) at $440-$442/mt CFR.
One Turkish agent source cited an indicative tradable value for US-origin HMS 1/2 (80:20) at $440-$445/mt CFR and for Baltic-origin HMS 1/2 (80:20) at $438-$442/mt CFR. A second Turkish agent source said $440-$445/mt CFR was workable for US- and Baltic-origin HMS 1/2 (80:20), with EU-origin HMS 1/2 (80:20) at $432-$437/mt CFR. A second mill source was more bearish, adding that mills will look to keep raw material input costs as low as possible amid rising electricity costs, which were affecting production margins. (Platts)
US HRC
The S&P Global Platts TSI US hot-rolled coil index was calculated at $1,955/st EXW Indiana Sept. 16, unchanged from Sept. 15.
A Midwest mill source indicated recent bookings have been at $1,950-$1,970. Another mill source in the South said most offers were at $1,940 but there could be some prices as high as $1,980. A third mill source said recent offers have been between $1,920 and $1,960. (Platts)
|
Indices |
Price |
Change |
MTD |
|
Platts TSI HMS 1/2 80:20 CFR Turkey ($/mt) |
441.00 |
0.00 |
442.35 |
|
Steel Rebar FOB Turkey ($/mt) |
667.50 |
2.50 |
666.50 |
|
Argus HRC NW Europe (€/mt) |
1080.00 |
-8.00 |
1095.27 |
|
Argus FOB China HRC ($/mt) |
909.00 |
0.00 |
909.00 |
|
LME HRC FOB TIANJIN CHINA USD/mt |
LME HMS 80:20 CFR TK |
|||||||
|
|
Bid |
Ask |
Value |
|
Bid |
Ask |
Value |
|
|
Sep-21 |
910 |
920 |
915 |
Sep-21 |
440 |
450 |
445 |
|
|
Oct-21 |
905 |
915 |
910 |
Oct-21 |
445 |
455 |
450 |
|
|
Nov-21 |
905 |
915 |
910 |
Nov-21 |
440 |
450 |
445 |
|
|
Q4-21 |
905 |
915 |
910 |
Q4-21 |
442 |
452 |
445 |
|
|
Q1-22 |
904 |
914 |
909 |
Q1-22 |
440 |
450 |
445 |
|
|
Q2-22 |
893 |
903 |
898 |
Q2-22 |
435 |
445 |
440 |
|
|
|
|
|||||||
|
LME REBAR FOB TK |
BUSHELING |
|||||||
|
|
Bid |
Ask |
Value |
|
Bid |
Ask |
Value |
|
|
Sep-21 |
665 |
675 |
670 |
Oct-21 |
589 |
599 |
594 |
|
|
Oct-21 |
665 |
675 |
670 |
Nov-21 |
595 |
605 |
600 |
|
|
Nov-21 |
665 |
675 |
670 |
Dec-21 |
595 |
605 |
600 |
|
|
Q4-21 |
665 |
675 |
670 |
Q4-21 |
593 |
603 |
598 |
|
|
Q1-22 |
665 |
675 |
670 |
Q1-22 |
580 |
590 |
585 |
|
|
Q2-22 |
642 |
652 |
647 |
Q2-22 |
565 |
575 |
570 |
|
|
US HRC USD/short ton |
NWE HRC EUR/metric ton |
|||||||
|
|
Bid |
Ask |
Value |
|
Bid |
Ask |
Value |
|
|
Sep-21 |
1918 |
1928 |
1923 |
Sep-21 |
1083 |
1093 |
1088 |
|
|
Oct-21 |
1831 |
1841 |
1836 |
Oct-21 |
1025 |
1035 |
1030 |
|
|
Nov-21 |
1709 |
1719 |
1714 |
Nov-21 |
995 |
1005 |
1000 |
|
|
Q4-21 |
1712 |
1722 |
1717 |
Q4-21 |
990 |
1000 |
995 |
|
|
Q1-22 |
1461 |
1471 |
1466 |
Q1-22 |
910 |
920 |
915 |
|
|
Q2-22 |
1322 |
1332 |
1327 |
Q2-22 |
852 |
862 |
857 |
|