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Oct.23.2021 1USD=6.4032RMB
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BRIEFING (October 13, 2021): Major Viewpoints

http://en.steelhome.cn [SteelHome] 2021-10-13 10:21:45

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About Steel: Prices of steel products mostly headed down. For instance, construction steel price fell by 10-140 yuan per ton; HRC price decreased by 40-140 yuan per ton; CRC prices decreased by 10-20 yuan per ton; medium plate price fell by 10-40 yuan per ton; sections prices fell by 20-50 yuan per ton. 304 stainless steel prices dived by 100-700 yuan per ton; 430 stainless steel price slid by 50-100 yuan per ton. The price drop was ascribed to sharp reduction in crude steel production, announced by CISA on Tuesday. The news reflected sluggish steel demand, and dampened marketers confidence.

About Fuels and Raw Materials: Coke and coking coal price kept stable, while PCI and thermal coal markets soared. The accident happening in one coalmine located in Shaanxi province added the expectation on coal supply. SteelHome predicts that metallurgical coke market will be weak; coking coal market will keep stable; PCI and thermal coal will continue to rise in the remaining of the week.

Iron ore demand increased as mills in Jiangsu province ramped up. Independent mills in Tangshan have been stopping production from October 12; the move reduced billet/slab demand. With lower billet price and higher steel one, rolling mills enjoy widening profit margin. Scrap market went up, as some EAF-based mills resumed production.

About Industry: According to CISA, the daily output of crude steel, pig iron and steel products in the last ten days of September was 1.7688 million tons, 1.6812 million tons and 1.8641 million tons, a drop of 11.18 percent, 5.81 percent and 3.37 percent from the daily one in the same time of August.

The estimated monthly production of crude steel in September is 2.5148 million tons, a drop of 6.34 percent from that in August or a reduction of 18.49 percent on year.

About Macro: NDRC issued the announcement on deepening thermal coal price reform. According to the announcement, thermal coal pricing will be listed on electricity market, with the price settling on the basis of benchmark price and price change. The current pricing price of thermal coal can work as related benchmark one for new energy power generation. As requested, the price uptick will be no more than 10 percent, the decline will not be bigger than 15 percent, and the price change range will be within 20 percent. Meanwhile, the energy-intensive companies electricity trading price will not be included in the 20 percent change limitation.


(To contact the reporter on this story: tina.tong@steelhome.cn or 86-21-50585733 15800777957)
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