Anshan I/S to Release Rebates for May

SHANGHAI, May 27 (SMM) – Last week, Benxi I/S and Ningbo I/S released rebates based on current market prices, but settlement prices of Anshan I/S and Shougang remained unreleased. Thus, steel traders remained cautious while purchasing goods from the two steel mills.

 

Steelease has learned that Anshan I/S will offer a RMB 300/mt for May’s hot-rolled coil orders and RMB 240/mt for SPHC. In this context, prices for goods arriving in Shanghai and Lecong will be RMB 3,460/mt and RMB 3,530/mt after the rebates, similar to market prices at present.

 

Traders were somewhat satisfied with the rebates, but were still discount with the rebates for March and April’s orders. However, such rebate of Anshan I/S will cause a loss of RMB 200/mt for steel mill based on the imported ore prices of USD 120-130/mt. Steel mills are expected to experience mounting pressure in the future.