Weekly Steel Market News Review

Last week, the global steel prices as a whole continued to fall, and the current transaction situation has not turned for the better. In terms of the price of semi-finished products, the overall price of billets in Southeast Asia fell by about $5/ton, and the price of the CIS region was also lowered. However, the Middle East billet price rose slightly, and the Iranian billet had a higher transaction price, which was $484/ton FOB. Although China’s billet export prices rose slightly this week, the overall decline in China’s billet prices has been more obvious in the past two weeks. Due to the fluctuation of China’s export prices, overseas billet buyers are still in a wait-and-see state, waiting for the emergence of lower prices. In terms of finished material prices, the performance of long materials is similar to that of billets. This week, the price of long materials in Southeast Asia also continued to fall, the wire quotation of a mainstream steel mill in Indonesia fell $10/ton week on week, and the wire quotation in Vietnam remained unchanged, but the rebar quotation fell. Although prices have fallen, buyers are still mostly on the sidelines because of ample inventory. In terms of plates, this week China’s steel sheets export prices appear differentiated, but due to the holiday, the overall offer information is less, the order situation is slightly improved, China’s medium and thick plate export prices continue to fall, the international market bearish sentiment is heavier, the demand is weaker.

Steel Material Latest Price

Hot rolled steel: The trend of hot coil quotes from Chinese steel mills and traders has diverged this week. A northeast first-line steel mill has lowered the listing price of SS400 HR coil from $570/ton FOB last week to $560/ton FOB. A Taiwan steel mill Q195 hot coil price is $512/ton CFR Vietnam, Q235B/SS400 price is $522/ton CFR, and Q355 price added $18/ton. Due to the Qingming Festival holiday in the second half of the week, traders reported less. Q195 hot rolled coil quotes rose to nearly $520/ton CFR, not much trading. Due to the decrease in the circulation of advantageous resources in the market, the situation of receiving orders has improved recently. Tangshan Advantage Q195 hot roll dropped from $502/ton CFR last week to $494/ton CFR, Q235 increased the price to $14 / ton, Q355B increased the price to $32/ton, May shipping date. According to feedback from Vietnamese importers, the Q195 hot rolled coil can be traded at $490/ton CFR, and the Q235 can be traded at $505/ton CFR. In the South American market, small batch A36 hot rolls can be traded at $550/ton FOB. The demand for steel in South America and Africa is weak.

Chinese Steel FOB Price (Unit: USD/ton)
Item	Port	Price on April 7
Hot rolled steel(SS400)	Tianjin Port	510
Cold rolled steel(SPCC)	Tianjin Port	602
Hot-dip galvanization（DX51D）	Tianjin Port	663
Rebar (B500B)	Zhangjiagang	505
H-beam (SS4000）	Tianjin Port	540

Medium plate: Last week, the price of the medium plate continued to fall, Tangshan advantage SS400 medium plate price fell to $528/ton FOB, but compared with the hot rolled coil order is still poor. The listed price of first-line steel mills in North China and East China is maintained at $575/ton FOB. At present, the local market in Vietnam is more bearish, traders’ inventories are generally high, and import demand is weak.

Rebar: Last week, the exporter rebar quoted $530/ton, unchanged from the previous price. At present, most of the Hong Kong rebar importers are looking at low-price resources, and at the beginning of the week, rebar quoted $513/ton CFR in Hong Kong, but it is still not known that there is an actual transaction. This week, the price of long materials in Southeast Asia has declined, and at the beginning of the week, the wire price of a mainstream steel mill in Indonesia was $510/ton FOB, and the wire price of the steel mill was reduced to $500/ton FOB. At the same time, the price of rebar in Vietnam has also declined, at the beginning of the week, steel rebar in Vietnam quoted $525/ton FOB (accounting), or $540/ton FOB (weighing) after the week heard the price down to $520/ton FOB (accounting), or $535/ton FOB (weighing). Although the price of long materials in Southeast Asia has been lowered this week, due to the current ample inventory of buyers, they are not eager to fill the inventory, so some buyers are in a wait-and-see state, and the overall transaction situation is not good.

Rebar Prices In major global markets (Unit: USD/ton)
Market	Price as of April 7, 2024
American Midwest Steel Factory price	910
American Import (CFR)	850
EU steel factory price	675
European Union Imports (CFR)	660
Turkey Exports (FOB)	593
Southeast Asia Import (CFR)	517
China Export (FOB)	505

Conclusion

Here are the latest steel materials prices and international steel industry news for your reference. For any questions. please don’t hesitate to contact us!