The international iron ore price rebounded and the container scrap prices continued to rise; the international steel raw material prices rose further, and the reaction cost, the steel mill Fengxing (2015) rose this week, and the scrap increased 200 per ton. Yuan, steel bars rose 200 yuan / ton, steel products also rose 500 yuan / ton. The steel bar was raised again after maintaining the flat for three weeks.

In terms of international raw materials, Japan's 2H scrap has risen by another US$1 to US$339 per metric ton; US container scrap offers rose by US$6 to US$306 per metric ton; Australian iron ore increased from US$84.85/ton to US$86.2/ton.

After the Lunar New Year this year, Fengxing's product prices have stopped falling and rebounded with the international raw material prices; since the end of February, the company has stopped its upward trend and opened a flat. Last week, it maintained a full flat for the third consecutive week. Recently, with the international raw material prices fully launched, Fengxing this week quoted price increases; among them, scrap increased by 200 yuan per ton, steel bars rose 200 yuan per ton, and steel products rose by 500 yuan per ton. The base price of the latest scrap purchase price is 9,200 yuan per ton. The base price of the steel bar price is 18,000 yuan per ton, and the base price of the steel plate price is 21,700 yuan per ton.

Source: China Times Newsletter
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