S&P Global Platts predicts that operating margins at steel mills in China and Turkey, which fell in September, will fall further this month on stronger coal and iron ore costs.
There has been a situation where higher prices for imported coking coal, while prices for Chinese HRC and rebar weakened this month.
Raw material costs for iron ore and premium coking coal imported into China in September were 6.4% higher than in August and relatively stable from a year earlier. This was based on spot prices and the amount of raw materials used per tonne of hot metal.
Steel prices in China are still high enough to provide indicative margins well above the 2017 average as well as 2016.
The Chinese metals sector is expanding export prices for HRC steel, and imports of iron ore with coking coal on Thursday moved below $ 300 /ton for the first time since August 2017.
In September, HRC export spreads fell by an average of $ 336.30 /ton, from August 353.76 /ton on May 28, the daily peak remains at $ 371.80 /ton.
In September, rebar exports to Europe fell 9.65% as scrap metal strengthened and rebar weakened. On Thursday, the export spread of Turkish imported scrap reached a new low of $ 169 /t, the weakest since August 2017.
In October, the profitability of the metallurgical enterprises of Turkey and China will fall
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Azovpromstal® 22 October 2018 г. 12:21 |
