【SMM Steel】Australia initiates AD probe on galvanised steel from South Korea & Vietnam

The updated steel scrap purchase price adjustment for Henan Anyang Steel was released today. If you need it, please feel free to contact us!

The dry-basis, tax-inclusive EXW price of iron ore concentrates in East Liaoning edged down to 860 yuan/mt. According to feedback from mines and beneficiation plants, the local price spread between domestic and imported ore is around 60 yuan/mt, while local steel mills generally have a relatively strong desire to bargain down prices and expect to narrow the spread to around 20 yuan/mt. Local mines and beneficiation plants are mostly selling as usual at steel mills' purchase prices. However, iron ore futures recently drifted higher, and the price spread between domestic and imported ore may continue to narrow. Local iron ore concentrate prices are expected to have limited downside room.

[Flat Products]Today some HRC and other flat-product export prices rose 1-2 USD/tonne day on day, with HRC transaction prices at 484-487 USD/tonne. Market participants report that the enquiry atmosphere for hot-rolled coil is rather quiet, while cold-rolled and coated grades are performing somewhat better, with low prices releasing some business. [Billet]Today billet export FOB prices ran steady to firm, rising 1 USD/tonne, with Jiangyin port offers at 449-454 USD/tonne. According to market feedback, the basis is currently at a reasonable level, many domestic traders were covering short positions, and export business improved. [Rebar]Today rebar export offers at Tianjin port were steady, with overall transaction prices at 472-477 USD/tonne. According to exporters, overseas enquiries were fair in the morning session, but futures fell back in the afternoon and market sentiment returned to cautious watching, with no clear pick-up in volume