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Asian Steel Market Continues To Decline

Posted:2018-11-30 15:04:38

Asian Steel Market Continues To Decline

In terms of flat steel products

Steel market prices tend to decline. In Southeast Asia, China's steel export market was weak after May Day. Some export traders said that the export prices of China's long products, plates and coated products are not superior to those of other countries. The export price of thin gauge galvanized coils is even higher than that of Japan. The export price of sheet metal is 20-high higher than the export price of India. 30 US dollars / ton. Ukrainian hot coil export offers to Southeast Asia for only $515/tonne (CFR, Southeast Asia), while China's hot coil export offer is $525 (FOB), which means that China's export price is $20-25/ton higher than Ukraine's. As of May 10, the ASEAN hot coil import price of 534 US dollars / ton (CFR), roughly the same as last month. China's SS400B 3-12mm hot rolled coil exports average price of 525 US dollars / ton (FOB), down 15 US dollars / ton. The average export price of SPCC 1.0mm cold-rolled coils was 575 yuan / ton, down 15 US dollars / ton. The DX51D+Z 1.0mm galvanized coil exports were $625/tonne (FOB), down $10/ton.

In terms of long steel products: market prices fluctuate weakly. In Southeast Asia, China's steel export market is weakening. Some export traders said that almost all steel export prices in China have no advantage over other countries. For example, Turkish rebar export prices are $30/ton lower than Chinese export prices. According to the trader, the current monthly export volume is around 15,000 tons, a decrease of about 40% year-on-year. In Taiwan, Fengxing Steel disclosed that the purchase price of the first and second mixed heavy melting scrap (80:20) on the island was still maintained at 8,800 Taiwan dollars/ton (284.5 US dollars/metric ton). The cost of going to its Taichung steel mill was basically the same as last week. Based on this, the current list price of the standard specification rebar EXW table with a diameter of 12-32mm is still maintained at NT$16,300/tonne, which is the same as last week. As of May 10, the average export price of China's B500 12-25mm rebar was 520 US dollars / ton (FOB), down 15 US dollars / ton.

In terms of trade relations

Malaysia’s Ministry of International Trade and Industry stated that they have revised their anti-dumping duties on alloys and non-alloy CRC imported from China, South Korea and Vietnam. Among them, Chinese steel producers and exporters such as Bengang Steel Plate Co., Ltd., Benxi Steel Pohang Cold Rolled Sheet Co., Ltd. and Shagang International Trade Co., Ltd. will face a tariff of 35.89%-42.08%.

Short forecast: Based on the fundamentals of the Asian and Chinese markets, the Asian steel market in the second half of May is forecast to continue its downward trend.

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