[SMM Steel Shipping] Last Week China's Total Steel Exports Rose 10% WoW

[SMM Steel] A US$125 million joint venture between US and Indian investors will build a metal pipe manufacturing facility in Jordan’s Quweira Industrial Zone, with annual production capacity of 500,000 tons. The plant will mainly supply pipes for Jordan’s National Water Carrier Project and the Risha gas project, including a 450-km desalinated water pipeline from Aqaba to Amman. The project is expected to create around 450 local jobs and also target export markets. Jordan’s water infrastructure plan will use reverse osmosis technology and aims to integrate 30% renewable energy by 2030.

[SMM Steel] Asian hot-rolled coil (HRC) prices continued to rise after Vietnam’s Hoa Phat increased June shipment prices by US$50/t, reinforcing the regional uptrend already seen in Taiwan and South Korea. Market participants viewed Hoa Phat’s move as particularly influential due to Vietnam’s role as a key regional pricing benchmark. Strong slab and HRC exports to Western markets tightened domestic supply in Vietnam, forcing local buyers to increase imports and pushing regional trading activity and prices higher. The supply shortage caused by mills prioritizing export orders continued to support the recovery of Asian steel prices.

[SMM Steel] The US Department of Commerce (USDOC) decided to maintain anti-dumping (AD) duties on prestressed concrete steel wire strand (PC strand) imports from 15 countries, ruling that removing the measures would likely lead to continued or renewed dumping. Saudi Arabia faced the highest dumping margin at 194.40%, followed by the UAE at 170.65% and South Africa at 155.10%. Other countries including Indonesia (72.28%), Turkey (53.65%), Malaysia (26.95%), and Egypt (29.72%) also remain subject to significant duties. The products involved are non-stainless, non-galvanized PC strand classified under HTSUS codes 7312.10.3010 and 7312.10.3012.