Asian steelmakers are facing a tough second quarter with weak Chinese consumption and increasing inventories despite production cuts. The latest deals concluded this week were as follows.
Billet prices and connections made
China > Cfr Philippines > 5sp > $513/tonne
China > Cfr Thailand > Q235, 150 mm > $510/ton > July-August shipment
China > Fob > 3sp, 150 mm > $495-497/ton > June-July shipment
The expected recovery in the Chinese property sector for May did not materialise. There is some optimism that demand will recover in June.
Reference prices for Chinese steel exports;
Iron ore $97.35 (-5.05)
Billet 505$ ( -10)
Rebar 550$ (-5)
Wire rod 550$ (-10)
Hrc 535$ (-10)
(570$/FOB for fast shipments)
Crc 625$ (-5)
Angle 490$ (-5)
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