In China, despite the recent trend of the
stock market, rebar futures and forward markets rebounded slightly, but on the
spot market, the real impact is not large, slightly better state of mind and
sluggish turnover poured cold water pouring cold. Opened this week, is still
continuation of last week to run the disadvantaged, each finished China
steel prices dropped again. Lumber prices lower reverse towed upstream
billet and coke prices to weaken, but also makes the downstream procurement
caution is becoming increasingly clear, take the goods market further weakening
of short-term weakness will continue.
In India, the steel market remains weak.
Indian hot rolled coil market is weak. The local ex-factory price is maintained
at of 33750-34250 rupees / tonne ($ 625-635 / t), equivalent to 581-591 U.S.
dollars / ton (CFR) plus 7.5% import duty. With the international steel market
weakness, import resources to offer continued to fall, Chinese commercial grade
hot rolled coil exports to India at 560-570 U.S. dollars / ton (CFR), 5-15 U.S.
dollars / ton, down from last week, but the buyer offered $ 550 / ton (CFR).
The cold rolling mill and end users is increasing interest on imported
resources, but cautious traders and dealers expected prices continue to fall.
Due to weak demand, coupled with imports increasing pressure on India this
month, the price of hot rolled fear of decline 500-1000 rupees / tonne ($ 9-19
/ t).
In Taiwan, the steel market continued to
decline. Plate import market decline. 550-560 U.S. dollars / ton (CFR), now
China and Ukraine and Resources News India resources offer about 510 U.S.
dollars / ton (FOB) compared with the previous two months, a drop of 110 U.S.
dollars / ton, buyers bid at $ 540 / ton (CFR) below the acceptable range
beyond the steel mills. Given the current market instability, the buyers are
willing to take risks under single market waiting to see darker. Expected
short-term the Taiwan plate market will continue to be bottoming.
In Southeast Asia, the the rebar market
fell. Due to weak demand, coupled with imported billet and scrap drop in price,
Southeast Asia rebar prices will decline. Thailand rebar prices 18400-18500
baht / ton (622-626 U.S. dollars / ton, the rationale dollars), more than two
weeks ago, a decrease of 500 baht / ton (17 U.S. dollars / ton). Malaysia
10-12mm threaded offer 2380 ringgit / ton ($ 796 / t) to 2310-2370 ringgit /
tonne ($ 773-793 / t), 13-32mm threaded offer from 2230 ringgit / ton (746 U.S.
dollars / ton) relaxed to the 2210-2230 ringgit / tonne ($ 739-746 / t). With
the end of the Malaysian general election, the market expects that the
construction of large-scale projects will speed up the process, the terminal
demand will rebound, of rebar prices or soon rose. However, the needs of other
countries may rebound limited, and after the rainy season in June and July, the
terminal needs to slow further, the consolidation coming months rebar market in
Southeast Asia is expected to run.
Above all, the prices of steel show the
trend of not stability, via the latest marketing survey, we can find that some
steel products will uplift according to the demand of steel market, like angle
iron, galvanized angle, rectangular tube, square tube, galvalume steel, ERW pipe, etc. So long as focusing on the
latest trend of steel news, we will get more chance for steel trade.
