6.18 SMM Global Steel Daily Report

SMM News Flash:

[Steel Billet] Export billet offers fell by 3-4USD/tonne today to around $470/mt. Inquiries from outside China decreased, orders declined, and the actual negotiation margin for transactions was around 5USD/tonne. Market intelligence indicated that Iran recently took orders for billets, offering significant price advantages, which diverted some Middle Eastern orders to Iran. Additionally, billet export prices from some neighboring countries were lower than those in China, so overseas buyers remained cautious in the short term, which would limit export transactions.

[Rebar] Rebar export FOB offers edged down by 2USD/tonne today, tracking futures. According to traders, market sentiment was subdued and inquiries were mediocre. Offers for southern China resources were maintained at 520-525USD/tonne, which were relatively high.

[HRC] HRC export prices fell by 1-2USD/tonne day-on-day today, with transaction prices at 494-503USD/tonne. Based on current inquiries, market offers remained mostly above 500USD/tonne, with shipment periods from July to August. Some overseas buyers made inquiries, but their target prices were more than 5USD/tonne below offers.