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Mar.28.2024 1USD=7.0948RMB
  SteelHome >>Steel>>Market Info>>Weekly Report
 
Weekly Report of China Steel Market for October 16-23, 2020

https://en.steelhome.com [SteelHome] 2020-10-26 10:09:52

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China steel market prices increased amid fluctuation, 2020. Operating rate of electric furnaces edged up while blast furnace remained at a high level. Market inventory kept dropping SteelHome China Steel Price Index (SHCNSI) closed at 96.91 points (4,192 yuan) on October 23, up 0.06 points from the previous week.

Overview

At present, China's economy continues to recover steadily, with major economic indicators continuing to improve.

According to the National Bureau of Statistics, GDP in the first three quarters was 7227.86 billion yuan, up 0.7% year-on-year at comparable prices.

National fixed asset investment over January-September reached 43,653 billion yuan, up 0.8% year-on-year, of which infrastructure investment rose by 0.2% year-on-year, January-August for the decline of 0.3%, manufacturing investment fell 6.5%.

Industrial production continued to accelerate. In September, industrial value added above designated size actually increased by 6.9% year-on-year, the growth rate accelerated by 1.3 percentage points compared with August.

Crude steel and steel output in September hit the record high. In October 1-11, daily average output of crude steel in key steelmakers kept around 2.17 million tons, while domestic steel market inventory kept declining, reflecting the boom supply and demand in domestic market. Meanwhile, the production restriction in Beijing, Tianjin, Hebei Province and surrounding areas is not intensified yet.

SteelHome predicts that steel market prices will continue to rise amid fluctuation next week.

HR/CR Plate/Coil

HRC

China’s HRC market price generally went up during the week ended October 23, 2020.

By October 23 (Friday), the average price of 2.75mm Q235 HRC in 28 Chinese markets came to 4,038 yuan/t, up 14 yuan/t from the previous week; 5.75mm Q235 HRC was 3,932 yuan/t, up 13 yuan/t respectively from the previous week.

It was learned that the market transactions were improved and HRC inventory kept dropping. Traders are prudent and optimistic about the further market development. The downstream demand was strong as automobile and excavator output soared.

SteelHome predicts that HRC market price will edge up next week.  

CRC

China’s CRC market price generally rise amid fluctuation during the week ended October 23, 2020.

By October 23 (Friday), the average price of 0.5mm CRC and 1.0mm SPCC CRC in 28 major Chinese steel markets in the week were 5,038 yuan/t and 4,797 yuan/t, up 17 yuan/t and 14 yuan/t respectively from the previous week.

SteelHome learned that CRC market were supported by the boosted downstream automobile and home appliance industries. Traders maintained the market inventory at a low level. However, as the price difference between CRC and HRC is huge, traders were prudent about the market development.

SteelHome predicts that CRC market price will go up next week.

Construction Steel

Construction steel market prices slightly increased in most marekts during the week ended October 23, 2020.

By October 23 (Friday), the average price of 8mm HPB300 high speed wire rod and 18-25mm HRB400 were 3,990 yuan/t and 3,763 yuan/t from last week, up 21 yuan/t and 16 yuan/t.

According to SteelHome survey, construction steel market inventory kept reducing while the trading volume increased from last week, indicating the strong demand in construction sites.

SteelHome predicts that construction steel market price will rise amid fluctuation next week.

Medium Plate

China’s medium plate market price fluctuated in domestic market during the week ended October 23, 2020.

By October 23 (Friday), the 8mm Q235 medium plate prices averaged 4,281 yuan/t and 20mm Q235 medium plate was 3,986 yuan/t, roughly flat from last week.

SteelHome was told that the market transactions were tepid and downstream users mainly procured in accordance with the demand. The settlement price of steel mills was firm. And traders were prudent yet optimistic about the market development.

SteelHome predicts that China’s medium plate market price will rise amid fluctuation next week.

Plated/ Color Coated Steel

China’s plated/color coated steel prices basically flat in some markets during the week ended October 23, 2020.

By October 23 (Friday), average price of 0.5mm and 1.0mm plating steel of 18 markets was 5,106 yuan/t and 4,810 yuan/t, up 2 yuan/t and 2 yuan/t respectively from last week.

The price of 0.326mm color coating steel and 0.476mm color coating steel was 6,222 yuan/t and 6,047 yuan/t, down 1 yuan/t and 2 yuan/t respectively from previous week.

The market prices were supported by the high CRC price.

SteelHome predicts that China’s plated and color coated steel price will slightly increase next week.

Strip

China’s hot-rolled strip market prices rose amid fluctuation during the week ended October 23, 2020.

By October 23 (Friday), the average price of 2.75mm * 235mm was 4,008 yuan/t, up 11 yuan/t from last week and 5.5mm * 685mm strip of 28 Chinese markets were 3,989 yuan/t, up 10 yuan/t from last week.

The transactions were roughly plain. Tangshan city, the hub of strip started level II response to the heavy pollution weather, thus rolling enterprises restricted the production. Downstream pipe mills chiefly consumed the inventory.

Traders mainly focus in selling and remained prudent about the market development.

SteelHome predicts that HR strip price will rise amid fluctuation next week.

Sections

China’s section steel price fluctuated during the week ended October 23, 2020.

By October 23 (Friday), the average price of 5# Q235 angle, 16# Q235 channel and 25# Q235 I beam in 28 Chinese marketplaces was 3,983 yuan/t, 3,919 yuan/t and 3,966 yuan/t, up 11 yuan/t, 10 yuan/t and 8 yuan/t compared to the previous week.

The average price of Q235 200* 200mm, 400* 200mm and 400* 400mm H beam was 3,764 yuan/t, 3,840 yuan/t and 3,988 yuan/t, down 1 yuan/t, 4 yuan/t and 4 yuan/t from the previous week.

Tangshan City, the main hub of section steel started the level II response to heavy pollution on October 23, restricting the section steel production of some steelmakers.

SteelHome predicts that China’s section steel market price will fluctuate next week.

Structural Steel

China’s structural steel price saw ups and downs during the week ended October 23 2020.

By October 23 (Friday), the average price of 50mm 45# carbon structural steel and 40Cr alloy structural steel of 22 Chinese markets was 4,101 yuan/t and 4,333 yuan/t, up 1 yuan/t and 1 yuan/t from the last survey.

According to SteelHome preliminary survey, round steel inventory of seven special steel enterprises in Jiangsu Province amounted to 353,000 tons by October 22, 2020, up 34,300 tons or 10.76% from October 15. Round steel inventory of eight special steel enterprises in Shandong Province amounted to 204,500 tons by October 22, 2020, down 16,000 tons or 7.26% from October 15.

At present, the structural steel prices were comparatively high and traders are bearish about the market development. The market price is supported by the structural steel ex-work price.

SteelHome predicts that domestic structural steel price will fluctuate next week.

Table 1: Chinese Steel Price during October 16-23, 2020 (price in yuan/t)

Product

Spec.

Size

Average price (yuan/t)

Average price (dollars per tonne)

Weekly change (yuan/t)

Weekly change (dollars per tonne)

HRC

Q235

2.75mm

4038

605.4

+14

2.1

Q235

5.75mm

3932

589.5

+13

1.9

CRC

SPCC

0.5mm

5038

755.3

+17

2.5

SPCC

1.0mm

4797

719.2

+14

2.1

Wire Rod

HPB300

8mm

3990

598.2

+21

3.1

Rebar

HRB400

18-25mm

3763

564.1

+16

2.4

Medium plate

Q235

8mm

4281

641.8

-

-

Q235

20mm

3986

597.6

-

-

Galvanized sheet

DX51D+Z

0.5mm

5106

765.5

+2

0.3

DX51D+Z

1.0mm

4810

721.1

+2

0.3

Coated sheet

CGCC

0.326mm

6222

932.8

-1

-0.1

CGCC

0.476mm

6047

906.6

-2

-0.3

Strip

Q235

2.75mm * 235mm

4008

600.9

+11

1.6

Q235

5.5mm * 685mm

3989

598

+10

1.5

Angle Steel

Q235

5#

3983

597.1

+11

1.6

Channel Steel

Q235

16#

3919

587.5

+10

1.5

Q235

25#

3966

594.6

+8

1.2

H beam

Q235

200* 200mm

3764

564.3

-1

-0.1

Q235

400* 200mm

3840

575.7

-4

-0.6

Q235

400* 400mm

3988

597.9

-4

-0.6

Structural Steel

45#

50mm

4101

614.8

+1

0.1

40Cr

50mm

4333

649.6

+1

0.1

                                                       Source: SteelHome                

Table 2: China Steel Export Price on October 21, 20204

Price in US dollars per ton, FOB, China ports

Product

Spec & Size

Export Price

Weekly up/down

Note

Square steel

Q235 120mm

445

-

-

Rebar

B500 12-25mm

515

-

Theoretical weight, small tolerance

Wire rod

SAE1008 6.5mm

520

-

Actual weight

Medium plate

SS400 12-40mm

520

-

-

HR coil

SS400B 3-12mm

515

-

-

CR coil

SPCC 1.0mm

580

15

-

H beam

Q235 200*100m

540

-

Theoretical weight, small tolerance

Galvanized sheet

SGCC 1.0*1250mm

625

-

Zn: 120g, regular zinc spangle

Hot dipped galvanized sheet

DX51D+Z 1.0mm

625

-

Zn: 120g, no zinc spangle

Contact SteelHome for buying steel from China


(To contact the reporter on this story: nancy.bu@steelhome.cn or 0086-21-50585358 15955340612)
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