Imported iron ore inventories at China’s 45 major ports were generally steady at 108 million tonnes as of July 2, up but only 276,500 tonnes or 0.3% from June 24, mainly as daily discharge rate at these ports declined over June 25-July 2 but new arrivals reversed down too, according to Mysteel’s latest weekly survey.
Imported iron ore sintering fines stocks at the 64 Chinese steelmakers under Mysteel’s bi-weekly survey reversed down over June 18-July 1 to 16.8 million tonnes, or 409,600 tonnes or 2.4% lower on a fortnight, as most of them had been consuming more in-plant stocks when prices ran high, market sources said on Thursday.
Processed coking coal output at the 110 Chinese independent and affiliated wash plants under Mysteel’s weekly survey declined notably by 47,300 tonnes/day or 6.7% on week to a 17-week low of 662,000 t/d as of June 30, according to Mysteel’s survey report published on Wednesday. Coal processing was impacted by maintenance and operational disruptions at some mines, the report noted.
Stable trading conditions at home encouraged China’s suppliers of hot-rolled coil to raise their export prices by around $10/tonne over June 20-28, yet despite this hike the price gap with the Chinese shippers’ global competitors narrowed as international prices climbed even faster, according to Mysteel’s latest weekly report. Shippers of foreign coils exporting to China stumbled with their pricing as well last week, Mysteel Global notes.
Over June 19-28, steel scrap prices diverged in Asia, as China, the world’s top steel production country, saw its domestic steel scrap prices strengthen while prices in other Asian regions showed signs of ebbing after having been on a uptrend for the past month or so, Mysteel Global noted.
Chinese iron ore concentrates prices diverged as of June 28 despite the overall steadiness in the imported iron ore prices, with the concentrates prices in North China’s Hebei and East China’s Anhui softening on week but prices in Northeast China strengthening in reaction to steel mills’ varied appetites in different regions, according to Mysteel’s weekly survey.
China’s imported iron ore market sentiment had been in general intact over June 19-24, as the demand from the Chinese steel mills had not seen much ebbing on their remaining high steel output even though steel stocks had been building up, and the prices of both seaborne cargoes and port inventories still persisted at their respective 10-month highs, Mysteel Global noted.
China’s domestic steel scrap market enjoyed a gradual recovery over the week of June 19-28, with Mysteel’s benchmark steel scrap price index edging higher by Yuan 24.5/t ($3.5/t) on week to Yuan 2,503.1/t on delivery to mills and including the 13% VAT as of June 28, a working day in China after the Dragon Boat Festival holiday. Market watchers mainly attributed the price uptick to the low stocks of scrap among steelmakers as scrap supply remains tight.
Blast furnace capacity utilization rate among China’s 247 steel mills grew up for the fifteenth consecutive week over June 19-24 by another 0.76 percentage points to 93.42%, according to Mysteel’s weekly survey, as most of the Chinese steel mills had not shown any inclination to cut down on their output in the rainy season yet.
Imported iron ore inventories at China’s 45 major ports rebounded 1.6 million tonnes from June 18 to 107.8 million tonnes by June 24, the first on-week rise after 9 weeks of consistent declines, mainly as the growth in new arrivals outpaced that in the rise in daily discharge rate at these ports over June 19-24, according to Mysteel’s latest weekly survey.
在中国贸易商主要成品钢材库存结束了14周继续下跌的3月下旬以来较6月份19-24虽然复苏仅仅是61400吨或仅仅0.3％的一周，主要是由于国内钢材需求已经显示有放缓迹象the heavy rainfalls having hit South and East china, while steel mills had yet trimmed the output promptly, according to Mysteel’s latest survey.