The UAE hot rolled steel coil import assessment price on April 25 was $640-720/ton (CFR), unchanged week-on-week. According to the UAE market news, due to the Eid al-Fitr holiday in the recent week, the UAE plate market as a whole is in a light state, and there are almost no overseas suppliers to the UAE to release the latest hot rolled steel coil export quotations, but market participants generally expect that with the recent weakening of the international steel market, especially the decline in China’s domestic steel prices, the UAE’s hot rolled steel coil import prices will also fall. On...

Singapore rebar import prices continued to fall by $10-15/mt. On April 24, the assessment price of Singapore rebar imports was 600-615 USD / ton (CFR), down 10-15 USD / ton week-on-week. According to Singapore market news, the Singapore import rebar market continued to be light in the past week. At the beginning of this week, the mainstream export price of rebar from other Southeast Asian countries to Singapore was 615-620 USD / ton (CFR), and Singapore buyers were bidding below 600 USD / ton (CFR) for imported rebar. A Singaporean trader said that buyers continue to be mostly bearish on...

Vietnam’s hot rolled steel coil import assessment price of $640-650/ton (CFR) on April 21 remained unchanged week-on-week. According to Vietnamese market news, the overall Vietnamese hot rolled steel coil market continued to be light last week, and buyers maintained a wait-and-see state. Last week, China’s SAE1006 hot coil to Vietnam’s mainstream export quotation was 640 USD / ton (CFR), unchanged from the previous week; Q195 hot rolled steel coil mainstream export quotation of 585 USD / ton (CFR), down 575 USD / ton (CFR) from the previous week; Last week, some Vietnamese buyers offered $575/mt (CFR) for China’s SS400 hot...

In March, iron ore shipments at Australia’s Port Hedland rose 17.9% year-on-year and fell 1.6% year-on-year, totalling 45,762,554 tonnes. Port Hedland shipped 40.41 million mt of iron ore to China that month, up 18.8% year-on-year and 2.3% year-on-year, according to information released by the Port Hedland Port Authority. Port Hedland handles production from mines owned by BHP Billiton, Atlas Iron and Fortescue Metals Group in Western Australia’s iron-ore-rich Pilbara region

China’s Ministry of Industry and Information Technology (MIT) announced that China’s total shipbuilding production between January and March this year was 9.17 million deadweight tons (dwt), down 4.6% year-on-year.During the period, China’s new ship orders were 15.18 million dwt, up 53.0% year-on-year. As of the end of March this year, the book orders of China’s shipbuilding industry enterprises were 114.52 million deadweight tons, an increase of 15.6% year-on-year. In the first three months, China’s shipbuilding output and newbuilding orders accounted for 43.5% and 62.9% of the total global market, respectively. At the end of the first three months, Chinese shipbuilders...

Ohio-based Welded Tube today announced the opening of a new 55,000-square-foot facility in Monterrey, Mexico, which will begin operations in early 2024 with a focus on small-diameter, tight-tolerance tubes for the automotive industry. “Our customers are increasing their presence in Mexico and are asking us to continue to support their expansion and their commitment to OEMs,” Joe Frandanisa, president of Welded Tube lnc., said in a press release that we are listening to our customers’ needs and that our expansion in Monterrey will allow us to grow and strengthen ours relationship with them. The plant is breaking ground on a...

Brazilian Steel Association IABr has announced expectations that apparent steel consumption in Brazil will fall by 1.0% compared to 2022 to 23.2 million mt. The previous forecast published at the end of last year was 1.5% growth. Marco Polo de Mello Lopes, CEO of IABr, said that activity in Brazil’s two most important steel consuming sectors, civil construction and machinery and equipment, is decreasing, while the automotive industry will increase production, not necessarily solid growth, as it compares to last year’s low base. He mentioned that these three industries account for 82% of Brazil’s steel consumption. High interest rates, a...

According to the announcement of China’s National Bureau of Statistics NBS, from January to March this year, the added value and output value of China’s ferrous metal smelting and manufacturing industry increased by 5.9% year-on-year, and in March alone, the industrial added value and output value of China’s ferrous metal smelting and manufacturing industry increased by 6% month-on-month. At the same time, in the first three months of this year, the total output value of China’s industrial added value increased by 3% year-on-year, and the total industrial added value in March alone increased by 3.9% year-on-year and 0.12% month-on-month. It...

Last week, the import price of plate in South America continued its downward trend, on the one hand, the overall demand was relatively sluggish, on the other hand, Chinese suppliers generally lowered the export quotation of plate to South America. At present, the freight from China to the Pacific coastal countries in South America is about 35-45 US dollars / ton, and the freight to Brazil is about 50-55 US dollars / ton. In terms of hot-rolled sheets, on April 14, the import assessment price of hot rolled steel coil in South America was 680-700 US dollars / ton (CFR),...

On April 13, the US Midwest hot rolled steel coil ex-factory price index was 1302.3 USD / ton, up slightly by 1.3 USD / ton week-on-week. According to the US market, the current delivery time of hot rolled steel coil orders in the Midwest region is 8 to 10 weeks. Recently, the mainstream steel mill Cleveland Cliff in the United States raised its hot rolled steel coil base price to 1433.3 USD / ton, but this price has not actually been traded, the vast majority of buyers are currently unwilling to accept the price of more than 1323 USD /...