[SMM Analysis] Global Steel Market Weekly Review Issue 7
Chinese steel futures rose first and then fell last week, and prices continued to pull back after this week's opening. Current normal HRC export offers are at $460-465/mt, with buyer bids around $445-450/mt. Overseas clients recently held an overall bearish view on the steel market, leading to moderate transaction performance through price reductions. As futures pulled back, market inquiries increased. In the Thai market this week, apart from HRC prices being lowered, most other mainstream imported resources held steady. Traders mainly adopted a wait-and-see approach, awaiting the announcement of ex-factory price policies from mainstream steel mills. It is noteworthy that recent frequent overseas anti-dumping and anti-circumvention investigations mostly involve cold-rolled products and HRC. According to an SMM survey, Thailand has now initiated an anti-circumvention investigation on wide coil. Following Vietnam's wide coil anti-circumvention case, this marks a further strengthening of trade barriers in the Southeast Asian market, and China's subsequent HRC exports are expected to face increased difficulty.
Chinese steel futures rose first and then fell last week, and prices continued to pull back after this week's opening. Current normal HRC export offers are at $460-465/mt, with buyer bids around $445-450/mt. Overseas clients recently held an overall bearish view on the steel market, leading to moderate transaction performance through price reductions. As futures pulled back, market inquiries increased. In the Thai market this week, apart from HRC prices being lowered, most other mainstream imported resources held steady. Traders mainly adopted a wait-and-see approach, awaiting the announcement of ex-factory price policies from mainstream steel mills. It is noteworthy that recent frequent overseas anti-dumping and anti-circumvention investigations mostly involve cold-rolled products and HRC. According to an SMM survey, Thailand has now initiated an anti-circumvention investigation on wide coil. Following Vietnam's wide coil anti-circumvention case, this marks a further strengthening of trade barriers in the Southeast Asian market, and China's subsequent HRC exports are expected to face increased difficulty.
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