According to the latest monthly data of Türkiye Institute of Statistics (TUIK), Türkiye’s total imports of semi finished timber in October fell 22% year-on-year to 352500 tons. However, as of the first nine months of 2023, the total import volume still increased by 46% year-on-year, reaching 4.6 million tons. Until October, Russia was still Türkiye’s largest semi finished timber supplier. In October, the supply was 191300 tons, up 37% year on year, lower than 338000 tons in the same period last year.The European Union announced on June 23 that steel imported into the EU must prove that its materials are...

Today, the price trend of Chinese hot coils is generally stable. As of the time of publication, the spot price of mainstream 3.0 hot coils in Shanghai is 4150 yuan/ton (578 US dollars), indicating a slight lack of market confidence.In terms of exports, there is currently a significant differentiation in steel mill quotations. Large state-owned steel mills generally offer hot coil prices above $590/ton FOB, while some private steel mills offer prices around $565/ton FOB. There are a few orders completed during the February shipping schedule. Overall, the purchasing enthusiasm of overseas buyers has declined to a certain extent. On...

 Recently, the imported rebar prices in the United Arab Emirates have remained stable, but due to a slowdown in buyer demand to avoid year-end inventory accumulation, the local price range has expanded, mainly through rigid demand procurement.During the local National Day holiday, the market closed on December 4th, and it is expected that steel mills will end their bookings this week. It is reported that the listed price of rebar for delivery to the UAE domestic benchmark steel plant (UAE Steel Company) in December is 710 USD/ton EXW Dubai, with a slightly lower tradable price of approximately 685 USD/ton EXW...

Recently, supported by the cost of raw materials, the rebar price in Türkiye continues to run at a high level. At present, most of Türkiye’s steel mills are quoted at USD 585-595/ton FOB, while one steel mill in Marmara region is quoted at USD 605/ton FOB. Under current market conditions, the transaction price of rebar exported from Türkiye is 590-595 dollars/ton FOB. Israel, Yemen and some South American countries can accept a transaction price of 580 US dollars/ton FOB, but Türkiye traders believe that in the case of high cost of scrap and other raw materials, the transaction possibility of...

On November 22, 2023, the Australian Anti dumping Committee issued Announcement 2023/082, stating that the second anti-dumping sunset review investigation was launched against hot rolled structural steel sections imported from Japan, South Korea, Thailand and Taiwan, China, China, in response to the application of OneSteelManufacturing Pty Limited (trade name: Liberty PrimarySteel), a domestic enterprise in Australia. The dumping investigation period in this case is from October 1, 2022 to September 30, 2023, and the injury investigation period is from October 1, 2019 to September 30, 2023. The Australian customs codes for the products involved are 7216.31.030, 7216.32.031, 7216.33.032, 7216.40.0033, 7228.70.0011,...

Recently, Nippon Steel, the leading steel plant in Japan, announced that it will conduct maintenance on the hot coil rolling mill in February 2024, which will reduce its hot coil production by about 160000 tons. The average monthly export volume of the company is between 500000 and 600000 tons, and the export quota will be further reduced after the shutdown and maintenance of the rolling mill. Considering the high cost of raw materials and the squeeze on steel mill profits, the company has raised the export price of hot coils by $50/ton to $700/ton CFR EU and $600-630/ton CFR Asia,...

Mysteel learned that weak market demand and rising input costs have been putting pressure on steel pricing of Türkiye’s steel mills. Despite the continuous downturn in demand, rebar producers still maintain high quotations against the background of high scrap import prices in Türkiye.Recently, a company based in Marmara booked an order for HMS1&2 (90:10) from a US scrap exporter for $393 per ton of CFR, and also confirmed a Baltic origin transaction for $385 per ton of CFR. After new orders from the United States and the Baltic Sea were confirmed, suppliers continued to maintain a bullish attitude, and the...

Mysteel learned that recently, with the appreciation of the RMB, the export prices of Chinese hot coils have continued to rise. The export quotation of Chinese steel mills is about 564-580 US dollars per ton FOB, with a weekly increase of about 20 US dollars per ton.Mysteel estimates that the price of China’s export heatwave today is between 548-564 US dollars per ton FOB, an increase of 5 US dollars per ton compared to the previous day. Recently, due to the rise of the RMB exchange rate, reaching a new high in nearly four months, the economic fundamentals have been...

In recent years, Malaysia’s steel production capacity has continued to grow, but its demand growth has significantly slowed down, and the industry is in a state of overcapacity. According to data released by the World Iron and Steel Association, Malaysia’s crude steel production capacity in 2022 was approximately 17 million tons, with a consumption of only 7.5 million tons. The pressure on production capacity of steel products such as threaded steel, construction wire rods, and cold rolling is increasing. On November 14th, Liu Zhendong, Deputy Minister of Investment, Trade and Industry (MITI) of Malaysia, stated that in order to reassess...

In November, the scrap import price of Türkiye rose significantly. Last Friday (November 10), Mysteel heard that two exports of heavy waste HMS 1&2 80:20 resources from the West Coast of the United States were sold to steel mills in southwest Türkiye at a price of 379-379.5 dollars/ton CFR. According to Mysteel’s understanding, the export price of the US/Baltic HMS 1&280:20 is mainly about 379-380 US dollars/ton CFR Türkiye, up about 14 US dollars/ton from the end of October. Mysteel also heard that last week, the transaction price of heavy waste HMS 1&2 80:20 in Europe was $373/ton CFR Marmara,...