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Two of China’s major exporters increased their bids for SD400 ingot steel in December for delivery in January 2021, with deals closed on December 4, sources told S&P Global Platts.

China Reinforcing Steel Price
China’s main export mills increase offers for reinforcing steel by $50/ mt starting in November

Export offers up $50/ mt from November

A major export plant in East China issued a bid for SD400 13-25 mm bar steel at a theoretical weight of $560/ mt CFR Korea and $570/ mt CFR for 10 mm, a market source said. These two bids were both up $50/ mt from November.

Another East China export plant offered SD400 bar steel 13-25 mm at a theoretical weight of $560 $/ mt CFR Korea and $570 $/ mt CFR for 10 mm, one source from the plant said, both $50/mt higher than in November.

Export prices for rebar rose due to a strong international rebar market

Prices for rebar rose due to a strong international rebar market, market sources said, adding that some shipments were completed at a theoretical weight of $555-$557/ mt CFR Korea for SD400 rebar of 13-25 mm and $565-$567/ mt CFR for 10 mm.

The most actively traded rebar futures contract of January 2021 on the Shanghai Futures Exchange closed at 3,980 yuan/mt Dec. on December 7, 2021, up 232 yuan/mt from the last price adjustment on November 5.

Source: spglobal.com


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