This week the international steel market were mixed. US market ups and downs, the previous US steel mills raised sheet prices are being accepted by the market, Nucor announced the increase in plate and wire prices, after a wave of rebound, the US rebar import market continued to decline. European market remained weak, coil market continued to fall, breaking 500 euros / ton mark, short-term is expected to remain weak. Asian markets pulled up slightly, driven by rising prices in China's domestic market, hot rolled and square steel export quotes rose, Fengxing Iron and Steel for 2 weeks raised the price of rebar. Overall judgment, with the off-season, the overall market demand is weak, steel prices can be accepted by the market to be observed, the international steel market is expected to continue to run in the short term.
The US market is mixed
Flat material, continue to rise. US steel sheet prices are being accepted by the market. US steel mills rose after the price increase, although the customer to wait and see, this week, little turnover, but the hot coil raised 30 US dollars / short ton policy is being slowly accepted, the current Midwest steel hot coil ex-factory price of 590- $ 600 / short ton, cold rolled at $ 790-800 / short ton. A steel mill said that this week's hot volume ex-factory price is no longer less than 600 US dollars / short ton, is expected in July orders will emerge next week, consolidate the foundation. There are also market participants pointed out that the auto industry demand began to decline, some steel orders are not full, still give large orders more discounts. New York on Thursday announced the increase in plate prices, the price increase of not less than 30 US dollars / short ton, involving varieties including carbon, alloy and heat treatment plate, immediately effective.
Long products, ups and downs are present. US rebar import prices fell. After a wave of rebound, the US rebar import market continued to decline this week, the import price of 515-525 US dollars / ton, down 10 US dollars last week / ton. US rebar anti-dumping investigation results, Turkey's high tax rate, so the Turkish rebar prices rose 35 US dollars / ton, but was the US user's boycott. Compared with Italian and Vietnamese rebar, Turkish resource prices are significantly higher, but because the two countries long delivery, buyers are still hesitant. Spanish and Portuguese rebar is relatively appropriate, from the price and delivery time can replace the Turkish resources, so the recent turnover began to rise. New York raised wire offer $ 20 / short ton, mainly for the July 28 after the delivery of resources. US steel mills last raised wire offer in April.
European markets remain weak
Flat material, to maintain weakness. European coil market continues to fall. European plate metal market fell further, the Nordic hot volume has fallen below 500 euros / ton psychological barrier, southern Europe galvanized coil fell below 600 euros / ton mark. Although the Nordic steel plant to try to maintain the ex-factory price of 500 euros / ton, but most users do not order, the German Ruhr ex-factory price fell to 495 euros / ton. In southern Europe, ex-works prices fell to € 470-480 / t, and Italian imports fell to € 445-455 / t (CIF). So far the best performance of hot galvanized coil prices began to weaken, Ruhr ex-factory price fell to 650-680 euros / ton, the Italian transaction price fell to 580 euros / ton, below 600 euros / ton mark. Nordic cold volume ex-factory price of 600-605 euros / ton. As the inventory is high, dealers only purchase a small amount to meet the demand, and raw ore prices are also falling, steel demand downturn. This wave of steel prices fell on the market mentality of a greater impact, but the current price is still higher than a year ago, about 50 euros / ton, despite the lack of apparent demand, construction and the actual needs of the automotive industry are still supported. With the French and Italian markets falling, as well as competitive prices from Central Europe, the Nordic market downturn pressure, most buyers wait and see attitude, see if the market has to the bottom.
Long profile, to remain weak. The Polish rebar market remains weak. Despite the steady price of scrap, but in June the Polish rebar market is still down the trend, the current mainstream delivery price of 440 euros / ton, compared with a month ago, 20 euros / ton. A service center said that although the import quotation is not much, but competitive. Russian resources reported 410 euros / ton, Hungarian steel company resource delivery price of 438 euros / ton. However, there are manufacturers that, due to low inventory levels, dealers demand for procurement is active, the next few weeks prices are expected to stabilize.
Asian markets pulled up slightly
Flat material, the steady rise. China's domestic market prices rose in the domestic market prices rose, the Asian hot rolled spot prices rose slightly, China's ordinary commodity volume quoted at 440-450 US dollars / ton (FOB), cold rolled base exports to Vietnam offer rose to 470-480 US dollars / ton (CFR ), Allegedly Vietnam this week from India imported cold rolled base material traded at 460 US dollars / ton (CFR). In India, domestic hot coil demand remained weak, as the new GST (GST) will be implemented on July 1, consumers generally postponed the procurement, in the new tax law before the implementation of the existing inventory to digest the main. India's domestic hot coil prices remained stable this week, the current hot volume with freight ex-factory price of 3.55-3.65 million rupees / ton (552-568 US dollars / ton), tax of about 4.19-3.31 million rupees / ton. Affected by the rainy season, June-August is usually a relatively weak demand for Indian steel, hot roll demand is also the case, is expected in July after the implementation of the new tax law will be improved, then the buyer may start to fill the library.
Long products, the overall rise. (FOB), rebar mainstream export quotations stabilized at 480-490 US dollars / ton (FOB, real weight), and the price of the Chinese long steel market rose, the Chinese steel market prices rose in the 450-460 US dollars / ton (FOB) Compared to the weekend rose $ 10 / ton. In Japan, Nippon Steel Corporation (NSSMC) maintained its domestic H-beam contract price stability in June (July). At present, the Tokyo SS400 large H-beam price of about 7.5-76 million yen / ton (682-691 US dollars / ton), unchanged from the previous month. Tokyo-based traders said the April-May H-beam shipments were down, but this could have been affected by the holidays. H-beam overall demand remains strong, this trend will continue. Due to the increase in electricity tariffs in summer, Japanese electric furnace mills usually carry out summer break in July and August, which will help to achieve a balance between supply and demand, to support buyers to accept higher prices. NSSMC subsidiary H-beam dealer Tokiwakai Group 5 at the end of the stock of 19.7 million tons, with the chain basically flat. In Taiwan, China, Fengxing Steel raised its rebar price for 2 consecutive weeks. Fung Hing Steel continues to raise the rebar price and scrap purchase price this week. The 13mm rebar price is raised by NT $ 200 / t to NT $ 14,500 / t ($ 483 / tonne) and the scrap purchase price is raised by NT $ 200 / Ton to NT $ 7 / t / t for 2 consecutive weeks. Fung Hing Steel said that the current rebar sales situation is not very good, but the scrap prices so that we had to adjust the rebar prices. Last week, China Taiwan Container 1 and 2 mixed heavy waste (80:20) import prices rose 8 US dollars / ton to 248 US dollars / ton (CFR). Usually in the third quarter of China Taiwan will encounter typhoons and heavy rain, will weaken the local steel consumption, especially construction projects. However, Fung Hing Steel expects the impact of typhoon weather on steel consumption or prices in June may not be significant.
