Major steel mills in India have lowered prices for hot-rolled coils in July due to weak demand affected by seasonal monsoons. In terms of sheet metal, the current ex factory price of hot coils in India is generally between $615-640 per ton, which is $15-25 per ton lower than the price in June. It has also been heard that some traders’ quotations are mainly concentrated at the level of 619-622 US dollars/ton. Even if the quotations are reduced, the competitiveness of this price is still weak compared to the price of 613 US dollars/ton for some Japanese export resources....

Recently, the price of imported scrap steel in Türkiye has remained stable at a high level. In the case of high prices of imported raw materials, although the overseas demand for rebar in Türkiye is sluggish, the quotation of some rebar in Türkiye is still relatively firm.  A steel mill in Malay completed a transaction on Wednesday for US heavy waste resource HMS 1/2 (80:20) at a price of $390 per ton of CFR, with a shipping schedule from August to September. The quotation of HMS 1/2 (80:20) from Europe for heavy waste is about 388-390 dollars/ton CFR Türkiye. It...

Recently, China’s overall quotation for Singapore long materials has fallen again compared to the previous period. Specifically, Mysteel has heard that Chinese steel mills are quoting $520/ton CFR Singapore for rebar, while Malaysian steel mills are offering the same quote at $520/ton DAP, a decrease of $5/ton compared to last week.   In terms of transactions, a batch of rebar orders with a price of 515 US dollars per ton of CFR have been imported from Hong Kong recently, and Singapore has not heard of any import transactions yet.   Recently, due to some buyers holding a bearish attitude towards...

  Recently, Indian hot coil importers have offered a counteroffer of approximately $530-535 per ton of CFR to Chinese hot coils, a decrease of approximately $10-15 per ton compared to last week. While Indian buyers have seen a significant decrease in bargaining, India has imported approximately 70000 tons of Vietnamese heat coils at a price of $575-580 per ton, with an August shipping schedule.   Although the price of Indian imported Vietnamese hot coils is relatively high, due to free trade policies, Indian imported Vietnamese hot coils are exempt from import tariffs, while imported Chinese hot coils require a tariff of...

  Currently, due to the surge in energy costs, the prices in the Italian long rod market have further compressed the profits of steel mills. Steel mills hope to increase domestic long rod prices by 20-30 euros per ton. The price of domestic rebar in Italy is generally at a transaction level of 350-370 euros/ton EXW, while the price increase of 12mm B450C rebar warehouse is about 615-635 euros/ton, and the transaction price of wire rod is generally between 650-660 euros/ton DAP, with no change on a weekly basis.   According to Italian steel production data, Italy’s crude steel production...

Currently, India is in the period of the end of the general election, and market transactions are gradually recovering and demand is improving. At the same time, favorable macroeconomic policies may drive a strong atmosphere of positive sentiment in the steel market. However, according to feedback from local traders, even though there has been some improvement in demand due to the end of the election, the overall improvement in demand is not significant due to the problem of monsoon arrival from June to September, which usually affects demand and downstream construction activities.   In addition, another factor affecting demand is...

Due to the recent sustained weakness in the Southeast Asian billet market, most Southeast Asian billet buyers are adopting a wait-and-see attitude, waiting for lower prices to appear.   At present, it is rumored that steel mills have quoted a price of 510-515 US dollars/ton CFR Southeast Asia for the export of 5SP billets, which is slightly lower than last week’s price of 510-520 US dollars/ton CFR. It has been heard that Indonesian and Chinese steel mills have quoted $510/ton CFR for billets with a specification of 3SP, and $513/ton CFR for billets with a specification of 5SP. In terms...

 Recently, the Brazilian slab export market has been sluggish, with slab prices ranging from $570-580 per ton FOB, a decrease of $10 per ton compared to last week. Although major Brazilian exporters have resumed export orders for July and August shipping schedules, the market remained slow in early June, with buyers mainly purchasing on demand. Market participants stated that a cold market at the beginning of the month is the norm, and the strong bearish sentiment among market participants this month has led to a further decline in export volume.   In terms of raw materials, the decline in iron...

This week, the prices of cold coils and hot-dip galvanizing in Europe have remained relatively stable. In terms of cold coils, the European market is dominated by lower priced imported products. Compared to the Chinese market, European steel mills do not have a competitive advantage. Only when someone needs shorter delivery times and specific grades (or sizes), do European steel mills have competitive opportunities. At present, European steel mills are reducing their production of cold coils, mainly focusing on hot-dip galvanized products with higher added value. It is understood that the delivery price per ton of rare CRC/s corn from Nordic steel mills is...

  Recently, many Muslim countries such as Egypt and the United Arab Emirates are about to celebrate Eid al Adha (June 16-19), and many market participants are preparing for the holiday, resulting in a slowdown in market trading activities.   The Egyptian market will have a holiday of about 10 days starting from this Friday, and demand will continue to be weak. Some local traders have reported that they are currently in a wait-and-see state for the future market. Currently, the price of threaded steel in the Egyptian long rod market is around 659-745 US dollars per ton. Compared to...