REER index was recorded at 95.85 in Apr 22 as compared to 96.66 in Mar 22. For details Visit #EasyData portal to view interactive chart and download data at https://t.co/aHl0Vr3YLF or see report: https://t.co/Ird7FDRhJ8
SteelBis wishes Eid Mubarak to Muslims across the world. May Allah accept your good deeds and bless you and your loved ones with kindness, patience, happiness, and love.
China's national price of HRB400E 20mm dia rebar assessment decreased further by Yuan 35/tonne ($5.4/t) from last Friday to Yuan 5,100/t including the 13% VAT as of April 24, a working weekend day in lieu of off-days during the Labour Day holiday over April 30-May 4.
With the latest adjustment, Osaka Steel, a subsidiary of Nippon Steel, has added a total of Yen 15,000/t since March and its total price increment since June 2021 has reached Yen 38,000/t.
Osaka Steel, Japan's largest steel section producer, has decided to make an additional hike for its section prices by Yen 5,000/tonne ($39/t) for May domestic sales, to transfer the further rise in production costs.
This is the first time for local billet producers in Tangshan to suffer losses since November 2021, as their production costs climbed to Yuan 4,814/t ($739.8/t) including the 13% VAT as of April 22, up by another Yuan 41/t
Billet producers in Tangshan, China's top steel production hub and billet supply base in North China's Hebei province, suffered an average loss of Yuan 24/tonne ($3.7/t) EXW including the 13% VAT as of April 22, due to continuously rising production costs and weakening demand
Similar-size and grade Vietnamese induction furnace billet are offered at $775/t cfr. A Vietnamese mill is also offering blast furnace billet at $800/t cfr. Offers for various sources were $800-830/t cfr during the week of 4 April.
In Manila, more billet import offers have fallen to under $800/t cfr. Vietnamese-origin120mm/130mm square 5sp EAF billet offers are prevailing at $785-795/tonne cfr Manila, Vietnamese sources say.
The downtrend in the raw materials segment transcended into finished steel futures, the most-active rebar contract on the Shanghai Futures Exchange SRBcv1 lost 3.4% and hot-rolled coil SHHCcv1 lost 4%.