[SMM Iron & Steel] Brazil-US Pig Iron Export Negotiations to Kick Off This Week

[Iran] Iranian steel billet export offers remain stable at 410-420 USD/tonne FOB or FCA border, primarily shipped from Bandar Abbas to Oman (with freight rates around 40-45 USD/tonne). However, impacted by surging sea freight costs and heightened security risks in the Middle East Gulf region, buyers have lowered their counterbids to 400-405 USD/tonne FOB. Market participants report that at least three vessels are currently waiting to berth, and overall port activity remains subdued. The hindered seaborne trade has prompted export activities to shift toward road transport; recently, approximately 20000 tonnes of billets were traded at 385 USD/tonne EXW for July delivery, with 130x130 mm billets seeing the strongest demand. SMM anticipates that as long as shipping disruptions in the Strait of Hormuz persist, seaborne exports will remain constrained, and short-term regional trade flows will continue to lean heavily on land transport to neighboring countries.

On June 12, the combined sample enterprise hot rolled coil daily trading volume for SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 14,660 mt, up 1,440 mt, or 10.1%, day-on-day, and up 35.74% YoY on a solar calendar basis and 9.40% YoY on a lunar calendar basis.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 12 Jun , 2026