Posted by AlexChiaWS > 2023-01-13 11:06 | Report Abuse

Steel rebar futures rose past CNY 4,060 per tonne in January, the highest since late August, supported by expectations of higher demand and signs of tight supply. Iron ore costs in China jumped as cargo surveyors flagged a sharp decrease in shipment volumes from major producer Brazil, leaving blast furnaces scrapping for the steel-making ingredient.

"article from Trading Economics"

Trade at your own risk.

Posted by Superb99 > 2023-02-13 12:09 | Report Abuse

So good prospects, why price keeps dropping, Mr Alex?

Posted by AlexChiaWS > 2023-02-15 12:52 | Report Abuse

Steel rebar futures are trading around CNY 4,006 per tonne (yesterday price) , down from the six-month high of CNY 4,180 touched on January 30th after a survey of post-Lunar New Year inventories of steel products in China showed a significant increase.

"article from Trading Economics"

Trade at your own risk.

Posted by TCH1186 > 2 months ago | Report Abuse

this will go higher in a month. hold your portfolio!

Posted by TCH1186 > 2 months ago | Report Abuse

me no joke liao. heh heh

Posted by AlexChiaWS > 2 months ago | Report Abuse

The tailwinds is pointing to a good direction for steel related counters.
Last QR (Sept to Dec), the steel was priced at:
Sept CNY 4000
Nov CNY 3500 (dropped)
Dec. CNY 3900 (recovering)
Basically all steel related company QR was bad.

Jan'03 CNY 4100
Feb CNY 4200
as of 14 Mar CNY 4339
Practically, next QR forecast should be better.

Trade at your own risk

Posted by AlexChiaWS > 2 months ago | Report Abuse

Prices for iron ore cargoes with a 63.5% iron ore content for delivery in Tianjin were near $130 per tonne, approaching the eight-month high of $133 touched on February 21st as investors remain optimistic about Chinese demand this year.

Steel rebar futures rose above CNY 4,300 per tonne in March, the highest in eight months, on optimism of higher demand from China as the country enters peak construction season and is set to announce more fiscal support. The Chinese government announced a 5% growth target for this year during its National People’s Congress session, paving the way for more stimulus for infrastructure. Meanwhile, supply remained tight as major steel production hub Tangshan was forced to extend its production halt in response to heavy pollution. Also, steel mills were forced to make higher bids for iron ore since adverse weather in top iron ore producers Australia and Brazil limited shipments.


"article from Trading Economics"

Trade at your own risk.

Posted by TCH1186 > 1 month ago | Report Abuse

heh heh

Posted by anisayob > 1 month ago | Report Abuse

Trend besi sdh mau start blk ke?