Chinese FeV50 stabilized at RMB86,000-87,000/mt (USD14,098-14,262/mt, export duty excluded) by acceptance, but transaction with steel mills was as low as RMB84,000/mt (USD13,770/mt, export duty excluded) by acceptance. At the yearend, demand strengthened owing to steel mills’ restocking for the Spring Festival holidays.
Within the whole year of 2013, there were three rises and falls of FeV50 price due to gambling between buyer and seller. FeV50 fluctuated in the range of RMB75,000 /mt(USD12,295/mt, export duty excluded) and RMB90,000/mt (USD14,754/mt, export duty excluded) by acceptance. Last year, policy that two grade rebar quitted the market stirred up raw materials price, FeV50 surged to the maximum RMB100,000/mt (USD16,393/mt, export duty excluded) by acceptance, and then turned to drop till RMB73,000/mt (USD11,967/mt, export duty excluded) by acceptance in April. In early September, FeV50 rose to RMB90,000/mt (USD14,754/mt, export duty excluded) by acceptance, the second high level of 2013, and then faded to RMB76,000/mt(USD12,459/mt, export duty excluded) by acceptance in early November. Presently it stabilized, and expected to hold firm due to solid demand till the Spring Festival.