8.28 SMM Global Steel Daily
[Flat products]Today HRC and other flat-product export prices rose 2-3 USD/tonne day on day, with HRC transactions concentrated in the 491-496
USD/tonne range. Trading sentiment was lacklustre, with most sellers holding high offers and no sizeable deals heard.
[Billet]Today billet export FOB prices edged up 4 USD/tonne, with Jiangyin port offers at 463-468 USD/tonne. Feedback indicates the spread between
domestic and export billet has been favourable recently, lifting some traders' appetite to buy; overseas demand, however, remains weak, high-priced cargoes are
hard to move, competition is intense and some sellers are undercutting to win orders.
[Rebar]Today rebar export offers at Tianjin port rose in step with the futures market, up 3 USD/tonne, with transactions overall at 481-486 USD/tonne.
Exporters reported reasonable enquiry activity but only mediocre deal volumes, mainly because downstream end-users are reluctant to accept higher prices.