Today, China’s steel prices are generally stable. As of press release, the mainstream spot hot coil price for Q235 in Shanghai is 3930 yuan/ton (539 US dollars), indicating a slight lack of market confidence.In terms of exports, currently, the export prices of ordinary coils from large steel mills in the north are higher than 550 US dollars/ton FOB, and the markup for SAE1006 material hot coils is between 15 and 20 US dollars, with very limited counteroffer space. The main factor is that the high price of iron ore has led to a significant increase in production costs for Chinese...

The current heatwave price in the European market is around 650 euros/ton EXW, with a decrease in tradable prices of around 20 euros/ton and an increase of around 30 euros/ton on a weekly basis. The price decline this time is mainly due to steel mills actively reducing production. Against the backdrop of poor demand expectations, the recent wave of price strength has also led market traders to start restocking. However, even in the face of the upcoming Christmas holiday and winter, traders are not in a hurry to accumulate inventory, mainly due to the inconsistent views of the market on...

In the past week, due to the strong performance of the domestic flat material market in Russia, most suppliers have not yet turned to the export market, resulting in a relatively calm export market.It is understood that the latest quotation from Russian steel mills is between 565 to 575 US dollars per ton FOB, and buyers estimate that the available price is between 535 to 545 US dollars per ton FOB. On Tuesday, Mysteel assessed the price of the CIS export heatwave as $545-565 per ton FOB Black Sea, which was unchanged from the previous day.In addition, competition between suppliers...

At present, Türkiye’s rebar exporters quote at 575-585 dollars/ton FOB, up about 5-10 dollars/ton from last week. But most market participants indicate that the actual transaction price is between 555-560 US dollars per ton FOB. Among them, the Malmara regional steel plant stated that due to the continuous high raw material costs, the lowest acceptable transaction price is currently 560 USD/ton FOB. In addition, the current domestic rebar quotation in Türkiye is USD 575-595/ton EXW. At present, the shipping date in November has arrived, and steel mills have begun to replenish the goods. The price of imported scrap steel in...

The Brazilian Steel Dealers Association (INDA) recently stated that based on expectations of increased domestic supply and the continued arrival of large amounts of low-priced imported resources at the port, local plate prices may continue to be under pressure in the future. On the supply side, the renovation of the No. 3 blast furnace at the Ipatinga steel plant owned by local plate producer Usiminas is scheduled to be completed at the beginning of this month. Its output accounts for about 70% of the manufacturer’s total output. Once the renovation is complete, Usiminas’ productivity is expected to increase by at...

Vale Indonesia, the Indonesian subsidiary of Brazilian miner Vale, has reported lower earnings in the third quarter due to lower average realised nickel prices,Kallanish learns.The company achieved earnings of $52.6 million in the third quarter, representing a decrease compared to the $70.4 million achieved in the second quarter. Q3 revenue also declined to $278.9m, from $295.8m in the previous quarter, after a 6% drop in prices to average $16,204/tonne.This was despite a 6% increase in production to 17,953 t from 16,922 in the previous quarter, underpinned by the implementation of an effective maintenance strategy coupled with “exceptional” operational performance.   In...

On October 27, Vietnam’s hot coil import assessment price was 550-560 US dollars/ton (CFR), which continued to remain stable on a week-on-week basis (mainly referring to 2-3mm re-rolled SAE1006 hot coil and similar products). According to Vietnamese market news, the mainstream export quotation of China’s SAE1006 hot coils to Vietnam last week was 565-570 US dollars/ton (CFR). Last week, there were also several batches of Chinese spot SAE1006 hot coils exported to Vietnam, with an export quotation of 550 US dollars/ton (CFR); last week The mainstream export quotations of China’s SS400 hot coil and Q195 hot coil to Vietnam are...

The International Monetary Fund (IMF) has released its latest world economic forecast report. The report believes that the global economy is stumbling forward, lacking momentum and showing a certain degree of resilience. However, the economic trends of various countries are increasingly divergent. According to its latest forecast, global economic growth will slow down from 3.5% in 2022 to 3% this year and 2.9% in 2024. The forecast value for 2024 has been lowered by 0.1 percentage points compared with the July forecast value, which is far lower than the historical growth rate. Average. Among them, the IMF’s GDP growth forecasts...

1.Singapore rebar import prices continue to remain stable On October 23, Singapore’s rebar import price was assessed at US$535-540/ton (CFR), which remained unchanged on a week-on-week basis. According to Singapore market news, the mainstream export quotation of Chinese rebar to Singapore at the beginning of this week was 540-545 US dollars/ton (CFR). The current freight rate from China to Singapore is about 15 US dollars/ton; at the beginning of this week, a mainstream Malaysian steel mill sent rebar to Singapore. It stands to reason that the heavy export quotation is 540-545 US dollars/ton (CFR), including the truck freight from the...

October 17 import valuation of $570-595 / ton (CFR), down from $570-605 / ton (CFR) on October 10; Saudi Hot Volume (1.2mm) of $620-630 / ton (CFR), unchanged from October 10. According to the Middle East market, early this week, the mainstream export price is $570-583 / ton (CFR), 570-580 / ton (CFR), early January, 595-600 / ton (CFR), lower than that of last week, $585 / ton (CFR), and 595 / ton (CFR). At the beginning of the week, China 1.2mm hot volume to Saudi Arabia mainstream export price of $620-630 / ton (CFR). In the recent week has...