Flat steel export offers remain steady and rebar export offers inch up slightly.Billet export offers also edge up amid higher domestic prices.Coking coal prices uptick in recent trades.

Chinese spot iron ore prices - Chinese spot iron ore prices opened up this week at USD 66.95/MT, CFR China which moved down to USD 66.45/MT, CFR China towards week end.

However, in the beginning of week the index price was at USD 67.55/MT amid strong steel margins.

Monthly average global iron ore fines (Fe 62%) prices in July`18 stood at USD 65/MT, CFR China, remain largely stable as compared to previous month.

Iron ore inventory at Chinese major ports reduced to 154.68 MnT, down 1 MnT against 155.68 MnT a week before.

Spot lump premium reduced by USD 0.0250/MT this week to USD 0.25/MT, CFR, owing to high lump inventories at major Chinese ports. The lump inventories witnessed at 22.90 MnT this week against 22.50 MnT a week before.

Spot pellet premium assessed at USD 63.70/DMT, CFR China, up by USD 0.80/DMT W-o-W owing to strong Chinese demand amid limited offers.

Coking coal offers uptick in recent trades- Seaborne coking coal offers witness uptick in recent trade deals which concluded in first half of this week.However ongoing port congestion hamper buying activities in China.

Meanwhile coking coal prices likely to be soften further amid environmental restrictions on coal consumption and upcoming production cuts on steel and coke capacity along with stringent port restrictions in China.

Thus currently,Premium HCC prices moved up and are assessed around USD 175.50/MT FoB Australia compared to USD 173/MT FoB basis a week ago.

Chinese domestic billet prices increase: Chinese domestic billet (150*150mm, Q235) prices increased to RMB 3,930/MT (including VAT) against RMB 3,810/MT a week ago. Amid increase in domestic billet prices in China, billet export price assessment has also increased this week to USD 520-530/MT, FoB.

Chinese HRC export offers remain steady over subdued demand-Chinese HRC export offers continued to remain stable despite retreat in domestic prices.

Currently Chinese HRC export offers heard around USD 575-580/MT, FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.

Domestic prices have increased by RMB 50/MT on weekly basis.Thus prices of HRC in the domestic market are gauged at RMB 4,290-4,310/MT (ex-works) in Eastern China and 4,220-4,240 /MT in Northern China.

Chinese Re-bar export offers inch up marginally-Nation’s re-bar export offers inch up marginally in line with increased domestic prices.Thus domestic prices are showing uptrend amid recent production cut announcement by the end of year.

Currently,Chinese re-bar export offers are at USD 557/MT FoB China.Bids remained on lower side which is around USD 550-565/MT FoB China.

Meanwhile prices in the domestic market stood at RMB 4,170-4,220/MT in (Eastern China) and RMB 4,110-4,150/MT in (Northern China).

Chinese Iron and Steel Prices Week 31,2018