[SMM Steel] Hoa Phat commissions new steel pipe plant in Tay Ninh, boosting capacity to 1.2 mtpa

[SMM Steel] [Iran] Despite the lifting of temporary export restrictions at the end of May, production from major steel mills remains constrained following airstrikes in late March. Driven by limited billet output and persistent domestic shortages, Iranian producers are prioritizing domestic sales, with most shipments sourced from existing stock rather than new production. Last week, slab demand remained weak, with only around 18000 tonnes transacted at an offer price of 462 USD/tonne EXW. As the Strait of Hormuz reopened and logistical constraints eased, coupled with lower ocean freight rates and falling Chinese steel prices, Iran's flat steel imports have increased, pushing imported HRC prices in the Persian Gulf region down to 560-570 USD/tonne CFR. Additionally, a combined shipment of approximately 30000 tonnes of billets and HRC was delivered to Bandar Imam Khomeini (BIK) via Iskenderun, Turkey last week.

According to the latest production schedule report for the three major white goods released by ChinaIOL, the total scheduled production of air conditioners, refrigerators, and washing machines in July 2026 is 29.17 million units, down 7.1% compared to actual production in the same period last year. By product, household air conditioner scheduled production is 13.95 million units (down 13.4% YoY), refrigerator scheduled production is 7.93 million units (up 0.8% YoY), and washing machine scheduled production is 7.29 million units (down 1.7% YoY).

[Flat Products] HRC Holds Steady While Other Flat Products Edge Lower on Exports Today HRC export prices held broadly steady while other flat-product export prices edged lower day on day, with HRC concluded at 491-500 USD/tonne. With the Strait of Hormuz situation fluctuating, fresh inquiries for HRC, heavy plate and other products emerged from that region this week, but sellers report actual deals remain limited. Separately, about 10000 tonnes of Q195 HRC for re-export was sold to Vietnam recently at 500-503 USD/tonne CFR.