The international steel market showed mixed performance this week. Prices in Dubai, Middle East, remained flat week-on-week, with market rumors of new steel mills yet to be finalized, resulting in sluggish trading.
In Central Asia, Kazakhstan saw prices rise by 18,000 tenge/ton, Uzbekistan fell by 400,000 soms/ton, and Kyrgyzstan rose by 6,000 soms/ton.
In Southeast Asia, Laos remained stable at 4,050 yuan/ton, with moderate trading volume; Singapore prices remained stable, but Chinese prices softened; Indonesian prices remained stable, with shipping costs stabilizing; Malaysian prices fell to $2,460/ton, with sluggish trading due to the upcoming holiday.
Turkey's export prices remained stable at $590-610/ton FOB, with trading slowing as the holiday approached. Scrap steel import prices fell slightly, with a stalemate between buyers and sellers.
Domestic port rebar export prices were $497-520/ton, with overseas customers adopting a wait-and-see approach, resulting in sluggish trading; prices at Northwest ports were 3,290-3,500 yuan/ton, with the resumption of production at Kazakhstan Steel having a significant impact on southern Xinjiang ports, leading to weak demand within Xinjiang. Overall, international market demand lacked significant impetus, with prices fluctuating but with limited magnitude, and end-users still primarily purchasing based on essential needs.
