[SMM Analysis] Holiday Stability in Overseas Prices, Divergent Trading Performance
HRC prices in Thailand and Malaysia mostly held steady. As the holidays largely coincided with those in the domestic market and shipments were affected by the Chinese New Year, overall transaction activity remained relatively weak. The galvanizing market in Thailand performed moderately, but due to low-priced resources capturing market share, downstream shipments were somewhat impacted, leaving limited room for price increases. Influenced by factors such as Ramadan, HRC trading in Indonesia also trended toward mediocrity, while overseas export offers remained stable amid a wait-and-see stance. However, supported by government policies promoting increased use of domestically produced steel in the local shipbuilding industry, medium and long-term demand for sheets & plates in Indonesia is expected to remain relatively optimistic.The Black Sea market recently exhibited overall calm, with FOB offers for HRC exports pulling back slightly compared to pre-holiday levels. Although some routine transactions were concluded, overall market activity remained sluggish.
Despite tight spot supply in the domestic Indian HRC market, it remains range-bound due to weak overall procurement demand, lacking momentum for price increases. Turkish HRC export offers have seen slight increases, following the price hike trend among European producers. European and US markets face strong policy and cost disruptions: although the US Supreme Court overturned some previously imposed tariffs by the president, the subsequent announcement of new global tariffs of up to 15% has sharply heightened market risk aversion. In European markets such as Italy, steel mills are leading ex-factory price increases against a backdrop of tight spot supply.
Copyright and Intellectual Property Statement:
This report is independently created or compiled by SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"), and SMM legally enjoys complete copyright and related intellectual property rights.
The copyright, trademark rights, domain name rights, commercial data information property rights, and other related intellectual property rights of all content contained in this report (including but not limited to information, articles, data, charts, pictures, audio, video, logos, advertisements, trademarks, trade names, domain names, layout designs, etc.) are owned or held by SMM or its related right holders.
The above rights are strictly protected by relevant laws and regulations of the People's Republic of China, such as the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, and the Anti-Unfair Competition Law of the People's Republic of China, as well as applicable international treaties.
Without prior written authorization from SMM, no institution or individual may:
1. Use all or part of this report in any form (including but not limited to reprinting, modifying, selling, transferring, displaying, translating, compiling, disseminating);
2. Disclose the content of this report to any third party;
3. License or authorize any third party to use the content of this report;
4. For any unauthorized use, SMM will legally pursue the legal responsibilities of the infringer, demanding that they bear legal responsibilities including but not limited to contractual breach liability, returning unjust enrichment, and compensating for direct and indirect economic losses.
Data Source Statement:
(Except for publicly available information, other data in this report are derived from publicly available information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, data from the National Bureau of Statistics, customs import and export data, various data published by major associations and institutions, etc.), market exchanges, and comprehensive analysis and reasonable inferences made by the research team based on SMM's internal database models. This information is for reference only and does not constitute decision-making advice.
SMM reserves the final interpretation right of the terms in this statement and the right to adjust and modify the content of the statement according to actual circumstances.
![[SMM Analysis] Non-Oriented Silicon Steel Prices May Hold Up Well Next Week](https://imgqn.smm.cn/usercenter/VgxkU20251217171719.jpg)
![[SMM Silicon Steel In-Depth - Capacity Chapter] Silicon Steel Landscape Undergoes Dramatic Changes: High-End Surges, Low-End Exits the Market, Structural Capacity Reshaping Imminent!](https://imgqn.smm.cn/usercenter/Zznfn20251217171716.jpg)
![[SMM Analysis] Supply and Demand Fail to Achieve Effective Alignment, GO Silicon Steel Prices Expected to Remain Stable Next Week](https://imgqn.smm.cn/usercenter/mpffV20251217171715.jpg)
