Steel Price Weekly Update

The price is the first factor you would consider when you purchase steel. Therefore, It is necessary to update steel prices regularly. Today, we update the price of hot-dipped galvanization and hot-rolled coils for you. Specific information is as below.

Hot-dip galvanizing exports: China’s hot-dip galvanizing steel prices are strong, but export prices continue to be weak, and transactions are weaker. Leading steel DX51D, 1mm, 120g galvanized layer of the official offer at 710-725 US dollars/ton FOB, the average price down 10 US dollars/ton, North China advantage resources small batch order transaction price at 670-690 US dollars/ton FOB, 40g/45g zinc layer transaction price at 660 US dollars/ton FOB. Overall turnover is weaker than the previous turnover.

Billet import and export: China’s billet export quotation has been reduced, the domestic price was relatively weak in the early part of this week, so some steel mills have suspended the update of billet export quotation. The Indonesian billet import buyer’s inquiry this week is still positive, the inquiry price is about 500-510 US dollars/ton CFR, and the Philippine buyer’s inquiry price is about 500 US dollars/ton CFR. In terms of imports, the price of the Russian billet is about 500 US dollars/ton CFR Asia, which is unchanged week on week.

Steel Latest Prices

Item	Port	August, 31 (Unit:USD/ton)
Hot-rolled steel (SS400)	Tianjin Port	550
Cold-rolled steel (SPCC)	Tianjin Port	638
Hot-dip Galvanization (DX51D)	Tianjin Port	710
Rebar (B500B)	Zhangjiagang	571

Hot-rolled Coils Price Update

China

China’s hot-rolled coil export price is stable and weak, and the listed price of Dachang is generally stable, and the transaction deviation. At present, the shipping period of October has been basically fully entered, and the export of October is expected to be weaker than that of September. The quotation of SS400 from the steel mill is maintained at 560-570 USD/ton FOB. Southeast Asian traders reported that the actual transaction price of large orders from private steel mills in North China was 535-545 US dollars/ton FOB. SAE1006 base material in 575-580 USD/ton CFR Vietnam, a large tonnage Q195 hot coil in the Vietnamese market landed transaction price at 540 USD/ton CFR.

Southeast Asia

Due to the Vietnam National Day holiday (September 1 – September 4) in the latter part of the week, combined with the impact of the monsoon season, local demand remained weak.

In terms of imports, on Monday, Vietnam importers received feedback from China Q235B and Q195 hot rolls at 543 US dollars/ton CFR, the thickness of the latter is 3.0mm; Q355 is quoted at $560 / ton CFR and shipped from September 30 to October 10. China’s SS400 hot coil mainstream offer is 540-548 US dollars/ton CFR, down 5 US dollars/ton week on week; Buyer inquiries are $535-540 / ton CFR.

India

Due to the current tight supply of hot coil due to the shutdown of many steel mills in July, the price of hot coil in India has risen this week, and the spot price is 56,500 rupees/ton ($683 / ton) EXW, up 1,000 rupees/ton week on week. It is expected that the local leading steel mills will increase the price of 750-1000 rupees/ton in September. However, in the long run, domestic demand may not recover as much as expected due to less monsoon rainfall this year than last year.

In terms of exports, despite receiving some inquiries from Middle Eastern billet mills, Indian steel mills are not actively offering prices to the local market. Recently heard its intention to trade at $615-620 / ton CFR UAE, up $5-10 / ton from the previous month. China SAE1006 hot-rolled coil quote remained at $580-590 / ton CFR Middle East, down $5-10 / ton week on week. Although there is still demand in the European automotive industry, overall demand in the local market remains weak; Hot-rolled roll (S275, 3mm) export quotation maintained at $690-695 / ton CFR Antwerp, not heard of transaction. As export quotas remain limited, Indian steel mills are expected to further increase their export offers.