Prices for rolled metal in China are looking for direction

Steel prices in China in both spot and futures markets fluctuated widely in the first half of June, and market participants remained relatively cautious amid general fluctuations in global prices.

The most traded October rebar contract on the Shanghai Futures Exchange (SHFE) closed the daytime trading session on June 11 at 5,322 yuan a tonne, up 147 yuan a tonne over the settlement price on June 4, and contango versus Shanghai spot price So the price rose to 192 yuan per tonne from 49 yuan per tonne a week earlier.

Billet : The price of a 150mm Q235 square billet in Tangshan, Hebei province in northern China, is up RMB 10 per tonne to RMB 5,010 per tonne EXW in a week, including VAT, according to Mysteel, as of June 11 as local price change. the rollers were ordered for another shutdown on June 10-15, and they purchased the blank only for their immediate needs.

Hot rolled steel b: China price of 4.75mm (Q235) hot rolled coil (HRC) as estimated by Mysteel for the second week is up 9 yuan over the week to 5,604 yuan /ton, including 13% VAT 11 June, and HRC stocks on the commercial site. warehouses in 33 cities in China rose another 19,700 tonnes in the week to about 2.58 million tonnes as of June 10, due to a slowdown in spot sales.

The most traded October HRC contract on the SHFE rose more substantially by 132 yuan /t from its settlement price on June 4 to 5610 yuan /t when the day trading session on June 11 closed and backwardation to the Shanghai spot price thus narrowed to 40 yuan /ton from 122 yuan /ton in the previous week.

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