DAILY: China's Iron Ore Prices Rose amid Rigid Demand in Some Mills
Benchmark 62% iron ores spot price rose by $1.35 to $127.08 a tonne on Monday, based on SteelHome consultancy data SteelHome China Iron Ore Price Index (SHCNOI).
According to SteelHome survey, traders were active in iron ore sales. For mills, some of them had iron ore procurement plans today. Meanwhile, several mills purchased iron ore for rigid demands.
And the most-traded products today were medium-and-low Fe grade Australian fines.
SteelHome considers that prices of iron ore may observe rangebound movements in the short run.
Other Info: Price Aggregates of Imported Ore at China Main Ports on Sep. 7, 2020
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SteelHome Express: China's Iron Ore Prices Rose on Monday
Benchmark 62% iron ores spot price rose by $1.98 to $125.68 a tonne on Monday, based on SteelHome consultancy data SH-CCN-IRNOR62.
According to SteelHome survey, traders were active in iron ore sales, setting the spot price at a high level. For mills, only some of them purchased iron ore due mainly to the rigid demands.
The most-traded iron ore products today were medium and low Fe grade Australian fines and lump ores.
SteelHome considers that prices of iron ore may observe rangebound movements amid current high levels in the short run.
Other Info: Price Aggregates of Imported Ore at China Main Ports on Aug 31, 2020
SteelHome Express: Shanghai CRC Prices Edge Up on Increased Billet Price
According to SteelHome survey, CRC market prices rise by 50 yuan/t in Shanghai market.
Last week, CRC market prices dipped with plain transactions. On Monday, market quotation is driven up by increased billet prices. At present, spot product market prices are supported by the tight supply and high cost. CRC production lines of Benxi Steel are in maintenance from August 25 for 10 days, then the total output declines by 50,000 tons. Traders tend to keep the inventory at a low level.
SteelHome predicts that CRC market prices will keep rising.
Related Link: Market price of Shanghai CR Sheet/Coil on Aug 31,20(new)
SteelHome Express: Shanghai HRC Prices Edge Down
According to SteelHome survey, HRC prices generally decreases by 10 yuan/t in Shanghai market. Yesterday, the transactions were sparse. Some traders lower the transacting prices in August-end to ease its pressure on fund. It is learned that HRC inventory increases due to the sluggish transactions and increased volume of arrivals. SteelHome predicts that HRC market prices will continue to decline amid fluctuation.
Related link: Market price of Shanghai HR Coil on Aug 27,20(new)
Shandong Steel Delivered Pipeline Steel to Nigeria Deep-water Port
Recently, Shandong Steel successfully completed the delivery of 8,160 tons of high value-added American standard pipeline steel coils ordered by China Communications Materials Group for the Lekki Deepwater Port Project in Nigeria, a significant cooperation project under The Belt and Road Policy.
The high-quality pipeline steel coils includes X70, X60, X52 and other series products. The delivery of the pipeline steel products has enhanced the brand image of Shandong Steel and laid a solid foundation for further cooperation with China Communications Materials Group.
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Port Hedland's Iron Ore Shipments to China Down 17% MoM in July 2020
Iron ore shipments to China from Australiaâ??s Port Hedland terminal, the worlds biggest iron ore port, decreased by 17% to 38.15 million tons in July from 46.19 million tons in June, port data showed on Thursday.
Overall iron ore shipments totaled at 43.64 million tons in July, down 16% from 51.79 million tons in June.
Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rinehart's Hancock Prospecting.
Baosteel Released Carbon Steel Flats Futures Price Policy for September
On August 10, Baosteel released carbon steel flats futures price policy for September based on price policy for August 2020. (Following prices exclude VAT unless specified)
I Heavy Plate (Baoshan base, Dongshan base)
Base price of carbon steel heavy plate: up 200 yuan/t;
II Section Steel (Qingshan Base)
Base price of steel sheet piling: up 260 yuan/t; guard rail: up 200 yuan/t;
The rest is unchanged.
III HRC (Baoshan base, Qingshan base, Dongshan base and Meishan base):
Base price: up 200 yuan/t;
IV Pickled coil (Baoshan base, Qingshan base, Dongshan base and Meishan base):
Base price for plain carbon and non-automotive steel products: up 260 yuan/t;
Base price for automotive steel products: up 100 yuan/t;
V Plain Carbon CR steel (Baoshan base, Qingshan base, Dongshan base and Meishan base)
HBIS Resources Co Ltd, a unit of China second-biggest steelmaker HBIS Group, said on Monday it had signed an initial deal to develop the Pampa de Pongo iron ore mine in Peru alongside current licence-holder Zhongrong Xinda.
The two Chinese companies plan to set up a joint venture to work on the first stage of the mine, which also contains copper, cobalt and gold reserves, an HBIS Resources filing to the Shenzhen Stock Exchange showed.
The scope of cooperation includes mine and port construction and operation, it added. No value was put on the framework agreement, which was signed on July 31 and will serve as a basis for negotiations between the two firms.
Investing in Peru, the worlds second-biggest copper producer after neighbouring Chile, would be HBIS first foray into South America. It coincides with steady demand from Chinese steel mills as prices of iron ore, the main steel-making ingredient, top $100 a tonne.
Qingdao-based Zhongrong Xinda acquired the rights to Pampa de Pongo in 2016 and its subsidiary Jinzhao Mining Peru is the projectâ??s operator.
A portfolio published by Peru Ministry of Energy and Mines in October 2018 said Pampa de Pongo, in the Arequipa region, could produce 28.1 million tonnes of iron per year and was expected to start operations in 2023.
It put the investment required at $2.2 billion.
Peru in mid-March imposed a mining lockdown to curb the spread of the new coronavirus, but has since eased restrictions. The country has reported more than 400,000 confirmed coronavirus cases and more than 18,000 deaths from covid-19, the respiratory disease the virus causes.
Monthly Report on China HRC Market for July 2020
Abstract
Domestic HRC market prices generally rose amid fluctuation in July. Both market and mill inventories went up. Trading volume slightly increased year on year. With the profitability, steel mills produced at its full capacity, but the products were still in shortage in some markets.
In July-end, some traders chiefly focused on selling due to the inventory and fund pressure. Heavy rainfalls in Southern China faded away in middle and late July, then the demand generally rose. Market sentiment was bullish.
SteelHome forecasts that HRC market prices will keep rising amid fluctuation in August.
SteelHome Express: Quotation of Imported Iron Ore Drops in Tangshan on Monday
Quotation of imported iron ore on Tangshan market decreases by 5-10 yuan/t on Monday.
Then the prevailing quotation on the market: PB fines is 850-855 yuan/t; PB lump is 885-890 yuan/t; Jimblebar fines is 770-775 yuan/t; Super Special fines is 690-695 yuan/t; Brazilian IOCJ is 945-950 yuan/t.
Meanwhile, at Rizhao port, PB fines has been traded at 832 yuan/t and 60.4%-Fe Jimblebar fines at 760 yuan/t. At Lanshan port, PB fines has been traded at 830 yuan/t this morning.
According to SteelHome survey, the overall transactions are at a normal level and the main products transacted today are medium and low Fe grade iron ore. SteelHome considers that prices of iron ore may observe rangebound movements in the short run.
Link: Chinese Traders' Quotation of Spot Iron Ore at Ports for Jul 27
According to SteelHome survey, HRC prices generally decrease by 10 yuan/t in Shanghai market. The transactions were comparatively weak on last Friday and the transacting prices were lowered. Today, the procurement is sparse. Downstream and end users mainly hold wait-and-see attitudes towards the market development. Some traders mainly focus on selling to ease its pressure on fund and inventory. SteelHome predicts that HRC market prices will continue to decline amid fluctuation.
Related link: Market price of Shanghai HR Coil on Jul 27,20(new)
SteelHome Express: Quotation of Iron Ore Broadly Stable on Wednesday
Quotation of imported iron ore on Tangshan market remains broadly stable on Wednesday.
Then the prevailing quotation on the market: PB fines is 850-855 yuan/t; PB lump is 890-895 yuan/t; Jimblebar fines is 775-780 yuan/t; Super Special fines is 700-705 yuan/t; Brazilian IOCJ is 980-985 yuan/t.
Meanwhile, at Rizhao port, PB fines has been traded 835 yuan/t this morning.
According to SteelHome survey, the overall transactions are at a normal level on the spot market. And the prevailing products transacted today are medium and low Fe grade Australian fines. SteelHome considers that prices of iron ore may keep fluctuating in the short run.
Link: Chinese Traders' Quotation of Spot Iron Ore at Ports for Jul 15
According to China Customs, China steel export in June was 3.701 million tons, a decrease of 30.2 percent on year; steel import was 1.878 million tons, up 98.7 percent year on year. In January-June, accumulative steel export was 28.704 million tons, down 16.5 percent on year and steel import was 7.343 million tons, up 26.1% on year.
SteelHome Analysis...
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Chinese Private Steel Enterprises Produced 197 Mt of Crude Steel
According to China Chamber of Commerce for Metallurgical Enterprises, Chinese private steel enterprises produced crude steel of 54.49 million tons in April, up 4.98 million tons or 12.8% from last month. Pig iron output in April totaled 43.85 million tons, up 5.69 million tons or 11.65% from last month. Finished steel products output amounted to 76.70 million tons, up 7.07 million tons or 10.15% from last month.
In the first four months, Chinese private steel enterprises produced crude steel of 197 million tons, pig iron of 164 million tons and finished steel products of 256 million tons.
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SteelHome: Seaborne Iron Ore Price Kept Dropping as Shipments from Overseas Miners to Increase
The average price of China domestic-produced iron ore concentrates at 14 main markets in China was 799 yuan/t on May 26, 2020, up 1 yuan/t from the previous trading day. It is expected that prices of China domestic-produced iron ore concentrates may stable in the near term.
Imported Iron Ore: the seaborne price kept dropping on Tuesday.
Overseas iron ore price from SteelHome: 61%-Fe PB fines was 94-95 dollars/t (CIF); 65%-Fe IOCJ was 111-112 dollars/t (CIF); 58%-Fe Yandi fines was 84-85 dollars/t (CIF), down around 2 dollars/t from the prior trading day.
At ports, the spot price for imported iron ore decreased by 10-15 yuan/t on Tuesday.
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SteelHome Express: Hangzhou Construction Steel Price Edges Down
According to SteelHome survey, construction steel market price decreases by 10 yuan/t in Hangzhou market. Yesterday, the transactions remained weak after market price dropped. Traders reflect that the construction steel inventory exceeds 1 million tons. With the fund pressure in May-end, traders still active in selling products. SteelHome predicts that construction steel will continue to slightly drop in Hangzhou market.
Link: Market price of Hangzhou Construction Steel on May 27,20(new)
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Iron Ore Transportation by Trucks Lead to Air Pollution in Goa Mining Area
Iron ore transportation has once again increased air pollution in Indias Goa mining area.
Goa State Pollution Control Board (GSPCB) air test data shows that air pollution in the area is mainly due to iron ore transportation activities, starting from March.
Member secretary of GSPCB Shamila Monteiro said the board has written to the directorate of mines and geology (DMG) to reduce the number of ore transportation trips by trucks in areas where it has noticed air pollution.
Reinforcing Bars Output in March 2020 Down 2.9% YoY
According to National Bureau of Statistics, reinforcing bars output totaled 19.015 million tons in March 2020, down 2.9% year on year. Reinforcing bars output during January-March, 2020 totaled 53.028 million tons, a decrease of 1.9% year on year. In March, wire rod output attained 11.520 million tons, down 5.5% year on year and accumulative output in the first three months totaled 33.451 tons, a year-on-year decrease of 3.3%.
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CISA: Daily Average Crude Steel Output of Member Steelmakers in March 11-20, 2020
CISA Members
During March 11-20, 2020, CISA member steel manufacturers produced 18.3661 million tons of crude steel, 17.0777 million tons of pig iron, 17.5848 million tons of steel products and 3.1921 million tons of coke.
Daily output of crude steel at CISA member steel manufacturers was 1.8366 million tons, up 1.55% from the daily output during March 1-10, 2020; daily output of pig iron was 1.7078 million tons, up 0.74% from the daily output during March 1-10, 2020; daily output of steel products was 1.7585 million tons, up 4.88% from the daily output during March 1-10, 2020.
The diameter of such pipes can range from a tiny 5 mm to a giant 2,000 mm with insulation thicknesses of up to 250 mm for long-distance heating pipes in the low temperature range. Its most important function here is to keep the heat exchange with the environment to a minimum. The core, which lies between the inner steel pipe carrying the medium and a concentrically arranged protective tube or jacket, offers maximum heat insulation from a minimum wall thickness.
Advantages:
Broad range of application
Outstanding insulating capacity
Good mechanical resistance
High heat stability when subjected to extremely high temperatures
Low water absorption
Energy saving in the transport of hot and cold media
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