[SMM Steel] Hyundai-POSCO Louisiana Steel selects Danieli for low-carbon US steel project

[SMM Steel] According to market feedback, the CIF price for HRC SAE1006, size 3.0*1250*C, is currently $550/mt. The shipping port is Jingtang Port, and the destination country is Turkey.

[Japan] Tokyo Steel announced a reduction of its domestic steel scrap purchase prices in the Tokyo Bay area by approximately 3.1 USD/tonne, effective June 26, with shindachi scrap cut by approximately 6.2 USD/tonne. After the adjustment, H2 scrap purchase prices in the Tokyo Bay and Kyushu areas both decreased to 331 USD/tonne, while in other areas they fluctuate between 331 and 334 USD/tonne. The latest price cut was primarily driven by weak demand for finished steel in the local construction and manufacturing sectors, prompting coastal EAF mills to precisely push for lower raw material prices to squeeze profits.

[Sheets & Plates] Affected by the afternoon plunge in domestic futures, export prices of hot-rolled coil and other sheets & plates edged down slightly day-on-day today, with transaction prices for hot-rolled coil at $491-500/mt. In the last two days, market rumors suggested an improvement in export orders. According to SMM's verification, although shipping to the Middle East has become somewhat smoother, most clients still said they need to wait and see given the high freight costs. However, orders for sheets & plates and billets destined for Turkey have increased noticeably recently. It is learned that this might be due to fewer arrivals from other sources, prompting a shift to procurement from China.