7.2 SMM Global Steel Daily Report

Published: Jul 2, 2026 18:18

Save

[Vietnam] Vietnam HRC centre falls under low-priced imports and weak demand

Offers for 2mm SS400 and SAE1006 coil into Vietnam held at 540-550 USD/tonne CFR. Hoa Phat cut prices sharply this month,

largely due to fierce low-priced import competition, plunging 34 USD/tonne from the prior month to 550-551 USD/tonne (delivered

domestic port), which the market is now digesting. Vietnamese HRC is expected to stay under pressure near term.

[India] Alang breaking scrap steady, finished-steel demand weak

Indian Alang HMS (80:20) breaking scrap held at about 400 USD/tonne EXW. In Gujarat's Bhavnagar, billet fell to about 480

USD/tonne DAP and rebar held at about 539 USD/tonne EXW; in north India's Mandi, billet slipped to about 502 USD/tonne DAP,

rebar eased to about 558 USD/tonne EXW, and HMS scrap dipped to about 413 USD/tonne DAP. With weak downstream demand

and need-based mill buying, scrap prices may stay soft near term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

[SMM Analysis] The supply-demand imbalance for building materials eased slightly this period.

According to SMM statistics, both mill and social inventories experienced inventory buildup to varying degrees. Total building material inventory stood at 8.3218 million mt, up 88,900 mt MoM, or +1.08% MoM, with the inventory buildup pace slowing somewhat.

Common.Time.minsAgo

July 9 Henan Anyang Steel's Steel Scrap Procurement Price Adjustment

The steel scrap procurement price adjustment of Henan Anyang Steel was updated today. Please feel free to contact us if you have any needs!

Common.Time.minsAgo

Common.Time.hoursAgo

7.8 SMM Global Steel Daily

[Flat Products] Flat-product exports steady day-on-day, HRC deals at 489-497 USD/tonne On 8 July, Chinese HRC and other flat-product export prices were steady day-on-day, with HRC export deals concluded at 489-497 USD/tonne FOB. A rally in the domestic futures board that day lifted inquiries somewhat, but most participants judged the upward move to lack staying power, mills showed limited willingness to raise offers, and actual transactions reportedly improved little. At the same time, renewed US-Iran tensions kept Middle East inquiries from recovering meaningfully, and overseas buying stayed cautious overall. Regional fundamentals were soft: Vietnam's Formosa cut its domestic HRC price for August-September delivery by about 40 USD/tonne, with SAE1006 HRC quoted around 545 USD/tonne in Ho Chi Minh City, while Hoa Phat had earlier trimmed its August HRC offer by about 34 USD/tonne, and falling Southeast Asian import prices further capped any upside in Chinese flatproduct export offers. [Billet] Billet export FOB edges up to 459-462 USD/tonne On 8 July, Chinese billet export FOB prices rose by about 1 USD/tonne day-on-day, quoted in a range of 459-462 USD/tonne. On specific terms, 3sp billet in 150*150mm was offered at 462 USD/tonne FOB out of Jiangyin port. Inquiries reportedly increased on the day, but buyers largely stayed on the sidelines after checking prices, so concluding deals remained difficult; the gain reflected a modest lift in offers rather than any pickup in transacted volume. [Rebar] Rebar export prices little changed, order intake recovers slowly On 8 July, market feedback indicated that Chinese rebar export prices had shown little movement recently, with limited room for negotiation. On specific terms, B500B rebar in Φ18mm was offered at 483 USD/tonne FOB out of Tianjin port. Overall, export order intake was recovering slowly and booked volumes had shrunk, with a few export-oriented mills cutting output for maintenance; with both supply and demand subdued, prices lacked clear direction.

Common.Time.hoursAgo