Friday, 02 Sep 2011
Bloomberg reported that the China Iron and Steel Association will start publishing a weekly iron ore index on October 1 as commodity pricing services compete to have a bigger say over pricing of the raw material used in steelmaking.
Mr Luo Bingsheng the deputy party secretary of the association said “We are able to collect data from all domestic mines and 35 ports nationwide. The group, known as CISA represents China 77 biggest mills.”
He said that “It isn’t mandatory for steelmakers to replace other price indicators. But an index launched by the steel association will be well received by its members.”
Mr Zhang Changfu Vice Chairman said the association index which will consist of domestic and import prices and will more truthfully reflect China market reality and guide orderly imports.
Quarterly iron ore prices are typically based on figures derived by deducting freight costs from the three month average of daily iron ore indexes compiled by Platts, the Steel Index Ltd and Metal Bulletin with a one month lag period.
(Sourced from Bloomberg)
Showing posts with label Chinese steel price index. Show all posts
Showing posts with label Chinese steel price index. Show all posts
Friday, September 2, 2011
Friday, August 26, 2011
Iron Ore-Spot prices at 3-month high, Shanghai rebar slips
Fri Aug 26, 2011 | By Reuters
* China steel price dip may sap iron ore upturn
* Shanghai rebar falls for the first time in 3 weeks
By Manolo Serapio Jr
SINGAPORE, Aug 26 (Reuters) - Spot iron ore prices rose to fresh three-month highs on hopes China's steel production pace will remain high as mills keep up with firm construction demand.
But a drop in China's steel futures for a second day on Friday could sap the upward momentum in prices of the steelmaking raw material.
"There are still buyers out there, but it's becoming difficult to push prices higher," said a shipping manager for an iron ore trading firm in Shanghai.
Two index-based spot prices hit their highest levels since mid-May on Thursday.
Iron ore with 62-percent iron content rose 0.1 percent to $178.50 a tonne, according to The Steel Index .IO62-CNI=SI, the highest since May 16.
Metal Bulletin's iron ore index .IO62-CNO=MB gained 0.4 percent to $178.94 a tonne, its loftiest since May 12. The Platts index IODBZ00-PLT was steady at $180.25.
Indian exporter Essel Mining sold 63.5/63 grade iron ore at $189 a tonne, cost and freight, this week, the highest so far for the grade in recent months, traders said.
"That grade is still unable to cross $190, which means not all the Chinese mills are willing to pay this kind of price," said the shipping manager.
Global miner BHP Billiton also sold three cargoes comprising 62-grade Newman iron ore fines and 58-grade Yandi fines at $183 and $159 a tonne, respectively, this week.
China's daily steel production has averaged more than 1.9 million tonnes since late February, up from last year's 1.7 million tonnes, spurring recent gains in both iron ore and steel prices.
But Shanghai steel futures eased for a second day on Friday, with the most-traded January contract slipping 0.3 percent to close at 4,800 yuan a tonne, in line with cautious trading in other commodities ahead of a speech by Federal Reserve Chairman Ben Bernanke later on Friday.
Shanghai rebar, which fell 0.3 percent on week, its first loss in three weeks, is down more than 2 percent so far in August.
Bernanke is expected to unveil a plan for the struggling U.S. economy at an annual central bankers conference in Jackson Hole, Wyoming, although market participants are not expecting him to announce aggressive measures like another round of bond buying.
"We still expect iron ore prices to be supported by tight supplies from India. There still aren't much new offers from both Indian traders and miners," said an iron ore trader in Shanghai.
"But mills might be cautious in buying more iron ore if prices continue higher."
Weaker prices for iron ore swaps <0#SGXIOS:> on Thursday suggested investors are unsure whether recent price gains in the physical market can be sustained.
Friday, July 29, 2011
MOC: Chinese steel prices rise for second consecutive week
Friday, July29, 2011
China's Ministry of Commerce (MOC) has stated that, due to higher iron ore prices, mills' announcements of price increases and reduced market inventory, in the week ending July 24 domestic steel prices in China rose by 0.4 percent compared to the prior week, rising for the second consecutive.
During the given week, the prices of 6.5 mm wire rod and 12 mm rebar in China rose respectively by 0.9 percent and 0.5 percent week on week.
Meanwhile, iron ore prices in China in the week in question rose by 1.5 percent as compared to the previous week. The drop of steel production in China has contributed to the steel price uptrend in the past few weeks. Based on statistics from the China Iron and Steel Association (CISA), the average daily crude steel output of its member enterprises in early July (July 1-10) was 1.63 million mt, down 3.8 percent compared to late June (June 21-30).
China's Ministry of Commerce (MOC) has stated that, due to higher iron ore prices, mills' announcements of price increases and reduced market inventory, in the week ending July 24 domestic steel prices in China rose by 0.4 percent compared to the prior week, rising for the second consecutive.
During the given week, the prices of 6.5 mm wire rod and 12 mm rebar in China rose respectively by 0.9 percent and 0.5 percent week on week.
Meanwhile, iron ore prices in China in the week in question rose by 1.5 percent as compared to the previous week. The drop of steel production in China has contributed to the steel price uptrend in the past few weeks. Based on statistics from the China Iron and Steel Association (CISA), the average daily crude steel output of its member enterprises in early July (July 1-10) was 1.63 million mt, down 3.8 percent compared to late June (June 21-30).
Monday, July 18, 2011
Iron Ore-Shanghai rebar hits over 2-mth high, ore firm
Mon Jul 18, 2011
* Construction boom buoys Chinese steel prices
* Inventories of long products fell last week
* Iron ore indexes highest since May on restocking
By Ruby Lian and Manolo Serapio Jr
* Construction boom buoys Chinese steel prices
* Inventories of long products fell last week
* Iron ore indexes highest since May on restocking
By Ruby Lian and Manolo Serapio Jr
SHANGHAI/SINGAPORE, July 18 (Reuters) - Chinese steel futures rose more than 1 percent to their highest in more than two months on Monday, as demand for long steel products remained solid amid a busier construction sector, pushing up iron ore indexes to their loftiest since May.
The most active October rebar contract on the Shanghai Futures Exchange rose as high as 4,925 yuan per tonne, a level not seen since May 5, before trimming gains to 4,909 yuan by the midday break, but standing up 0.8 percent.
The price of rebar, mainly used for construction, could continue to track higher in the next few weeks, as China accelerates construction of affordable housing units to ease asset prices and boost infrastructure in western regions.
"Traders are upbeat on rebar prices this summer and expect a rise ranging between 100 yuan and 200 yuan per tonne by the end of August," said a steel trader in Shanghai.
"We don't have any big concerns on fundamentals for rebar prices now, and all we can see is the country is quickening its urbanization and social housing project."
Makers of long steel products in China, the world's top producer, have boosted the utilisation rate of plants to above 95 percent, according to market estimates, to cash in on strong steel demand and prices.
"Inventories fell a lot last week, propping up investors' confidence that demand remained quite solid," said Wu Wenan, an analyst with HNA Topwin Futures.
Inventories of rebar in major cities in China fell by 135,820 tonnes on Friday from a week earlier, and wire rod dropped by 41,390 tonnes, data from industry consultancy Mysteel showed.
RESTOCKING BUOYS IRON ORE
Rising steel prices and output bode well for iron ore prices, driving up global indexes to their highest in nearly two months.
"Chinese steel mills might continue to restock iron ore this week while steel prices perform very well, which will keep iron ore prices firm," said an iron ore trader in eastern China's Shandong province.
Quotes for Australian 62-grade Newman iron ore fines rose by a dollar from Friday to $179-181 a tonne, including freight, said Chinese consultancy Umetal.
Spot offers for Indian 63.5/63-grade ore remained firm at $182-$184 a tonne.
Metal Bulletin's 62-percent iron ore index .IO62-CNO=MB edged up 99 cents to $174.06 a tonne on Friday, its highest since May 24, and The Steel Index's benchmark .IO62-CNI=SI rose half a dollar to $174.60 a tonne, a level not seen since May 19.
Iron ore swaps <0#SGXIOS:> continued to fall after recent sharp gains.
The Singapore Exchange-cleared July contract fell 81 cents to $172.19 a tonne, August dipped 87 cents to $170.13 and September declined $1.02 to $168.31.
The most active October rebar contract on the Shanghai Futures Exchange rose as high as 4,925 yuan per tonne, a level not seen since May 5, before trimming gains to 4,909 yuan by the midday break, but standing up 0.8 percent.
The price of rebar, mainly used for construction, could continue to track higher in the next few weeks, as China accelerates construction of affordable housing units to ease asset prices and boost infrastructure in western regions.
"Traders are upbeat on rebar prices this summer and expect a rise ranging between 100 yuan and 200 yuan per tonne by the end of August," said a steel trader in Shanghai.
"We don't have any big concerns on fundamentals for rebar prices now, and all we can see is the country is quickening its urbanization and social housing project."
Makers of long steel products in China, the world's top producer, have boosted the utilisation rate of plants to above 95 percent, according to market estimates, to cash in on strong steel demand and prices.
"Inventories fell a lot last week, propping up investors' confidence that demand remained quite solid," said Wu Wenan, an analyst with HNA Topwin Futures.
Inventories of rebar in major cities in China fell by 135,820 tonnes on Friday from a week earlier, and wire rod dropped by 41,390 tonnes, data from industry consultancy Mysteel showed.
RESTOCKING BUOYS IRON ORE
Rising steel prices and output bode well for iron ore prices, driving up global indexes to their highest in nearly two months.
"Chinese steel mills might continue to restock iron ore this week while steel prices perform very well, which will keep iron ore prices firm," said an iron ore trader in eastern China's Shandong province.
Quotes for Australian 62-grade Newman iron ore fines rose by a dollar from Friday to $179-181 a tonne, including freight, said Chinese consultancy Umetal.
Spot offers for Indian 63.5/63-grade ore remained firm at $182-$184 a tonne.
Metal Bulletin's 62-percent iron ore index .IO62-CNO=MB edged up 99 cents to $174.06 a tonne on Friday, its highest since May 24, and The Steel Index's benchmark .IO62-CNI=SI rose half a dollar to $174.60 a tonne, a level not seen since May 19.
Iron ore swaps <0#SGXIOS:> continued to fall after recent sharp gains.
The Singapore Exchange-cleared July contract fell 81 cents to $172.19 a tonne, August dipped 87 cents to $170.13 and September declined $1.02 to $168.31.
Saturday, January 29, 2011
Chinese steel price index continues to increase
Saturday, 29 Jan 2011
The Chinese Long Product Price Index CLPPI went up by 1 point on January 28th 2011 whereas the Chinese Flat Products Index CFPPI went up by 8 points. The overall price index CHISPI went up by 5 points.
The Chinese Long Product Price Index CLPPI went up by 1 point on January 28th 2011 whereas the Chinese Flat Products Index CFPPI went up by 8 points. The overall price index CHISPI went up by 5 points.
The Chinese Long Product Price Index CLPPI went up by 1 point on January 28th 2011 whereas the Chinese Flat Products Index CFPPI went up by 8 points. The overall price index CHISPI went up by 5 points.
| Class | 27-Jan | 28-Jan | Change | % |
| CLPPI | 7518 | 7519 | 1 | 0.0% |
| CFPPI | 7624 | 7632 | 8 | 0.1% |
| CHISPI | 7578 | 7583 | 5 | 0.1% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 27-Jan | 28-Jan | Change | % |
| PI - WRC | 6285 | 6285 | 0 | 0.0% |
| PI - Rebar | 9011 | 9013 | 2 | 0.0% |
PI- Product Index
Flat Products
| Category | 27-Jan | 28-Jan | Change | % |
| PI - Plates | 6994 | 6998 | 4 | 0.1% |
| PI - HR | 7795 | 7807 | 12 | 0.2% |
| PI - CRC | 7802 | 7802 | 0 | 0.0% |
| PI - HDG | 7243 | 7243 | 0 | 0.0% |
PI- Product Index
To know more about these indices please visit daily this blog or subscribe to FREE services of http://leeuniversal.blogspot.com by join Google group or send a mail for request. (sourced:steelhome.cn)
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