22 Mar 2022 China and Asian Market Update
Have had Vietnamese HRC Mills increased their ex-factory price a lot, expect that is a chance for Chinese material. As China is suffering from COVID 19 lockdown further. Major industries area in East and North East of China, such as Tangshan, Tianjin area are affected. At the moment, integrated mills maintained their production but most of CSP lines, Re-rollers stopped. Transportation, manufactory and construction sites, of course is facing difficulty too. As a result, demand and supply is not active.
To respond for the higher infectious of Omicron compared to the original virus, Chinese Government has just announced will accept self-isolation at home, which already happened in your countries months or half years ago. In view of domestic will remain struggling in the first 2 quarters at least, rerolling mills want to export more.
CNY(RMB)/USD: 6.3545/1
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Futures: |
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HRC: |
HC2205: |
CNY 5132 +0.59%(compared to 18/3) |
while at CNY 4950 on 14/3 |
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HC2210: |
CNY 5031 +0.60% (compared to 18/3) |
while at CNY 4828 on 14/3 |
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Debar: |
RB2210: |
CNY 4831 -0.02%(compared to 18/3) |
while at CNY 4601 on 14/3 |
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RB2205: |
CNY 4923 -0.02% (compared to 18/3) |
While at CNY 4695 on14/3 |
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Iron Ore: |
I2205: |
CNY 833 +0.97% (compared to 18/3) |
while at CNY 760 on 14/3 |
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I2209 |
CNY 826 +1.04% (compared to 18/3) |
while at CNY 753 on 14/3 |
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Coking Coal: |
J2205 |
CNY 3603 -0.62% (compared to 18/3) |
while at CNY 3430 on 14/3 |
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J2209: |
CNY 3468 +0.84% (compared to 18/3) |
while at CNY 3160 on 14/3 |
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Spot Market: |
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HRC: |
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For 4.75mm: |
+20/ +10 |
(compared to 18/3) to CNY5090-5140 |
while at CNY 4990-5020 on 14/3 |
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For 3mm: |
+20 /+10 |
(compared to 18/3) to CNY 5120-5190 |
while at CNY 5030-5080 on 14/3 |
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Debar: |
0 / 0 |
(compared to 18/3) to CNY 4930-5320 |
while at CNY 4880-5290 on 14/3 |
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Billet: |
0 |
(compared to 18/3) to CNY 4720 |
while at CNY 4660 on 14/3 |
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Iron Ore: |
-2.70 |
151.25 (18/3 closing, compared to 17/3) |
while at CNY 153.95 on 14/3 |
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Coking Coal: |
CNY 3580 |
0.00%(compared to 18/3) |
while at CNY 3380.10 on 14/3 |
**We appreciate your comment and advice, so that we can improve our quality. Thanks!
