Chinese Domestic & Export Steel Pricing

Steel Market Update has been working on developing new sources to complement some of our original sources out of China. The following information is part of a report we receive once per week from two steel trading companies located in Asia and actively involved with the Chinese steel industry.

The first note is from one of our consistent trading sources who trades not only steel but also iron ore and other mill inputs. This source discusses the higher prices in China as well as Southeast Asia and European markets due to higher coking coal and stable iron ore prices. This source believes steel prices will move higher in these markets. He also notes the selling price of billets, many going to the Turkish market for conversion to rebar and other long products. Higher billet prices will make U.S. ferrous scrap prices go higher on the export markets. Here is what our #1 trading source had to say: