Latest Asian Steel Price Trends

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.