[SMM Steel] SE Asia Import Billet Falls Further as Demand Stays Weak

[Sheets & Plates] Today, HRC prices were mainly stable, while export prices for other sheets & plates saw day-on-day declines. HRC transaction prices were at $491-500/mt. The situation in the Strait of Hormuz fluctuated. This week, there were some new inquiries for HRC, medium-thickness plates, and other products from that region. However, actual transactions remained relatively limited, according to seller feedback. Additionally, about 10,000 mt of Q195 HRC for re-export was recently sold to Vietnam at a CFR price of $500-503/mt.

[Iran] A large steel mill successfully sold 30,000 tonnes of 3SP and 5SP steel billets via a tender at 415 USD/tonne FOB Bandar Abbas. Another manufacturer completed an export order for 30,000 tonnes of billets at 420 USD/tonne FOB Bandar Imam Khomeini, and plans to deliver in July. With the overall decline in ocean freight rates and insurance costs, various parties in the Iranian market are actively preparing to resume exports to traditional bulk destinations such as Southeast Asia and Africa, seeking to regain market share by leveraging logistics cost advantages. However, as of now, no recent confirmed orders to the Asian region have been recorded."

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 26 Jun , 2026