【SMM Steel】Vietnam receives AD petition against Chinese prestressed steel bars

[Thailand] Recently, the Thai hot-rolled galvanized steel market has been deeply dragged down by traditional off-season factors, with overall transaction performance remaining sluggish and transaction prices showing a pronounced month-on-month decline trend. In terms of pricing and competition, the market has been strongly impacted by low-priced zinc-aluminum-magnesium coated steel orders. According to SMM survey, their offer levels have been pushed down to 585-590 USD/tonne, causing diversion and a price collapse for normal hot-rolled galvanized steel export channels and pricing. In the short term, the off-season effect is expected to continue to overshadow the market, with hot-rolled galvanized steel price weakness difficult to reverse; a substantive market recovery may have to wait until August and September, when the off-season gradually ends and the demand side may finally see more evident improvement and signs of recovery.

[SMM Steel] Market feedback indicates that currently the FOB selling price for SAE1006 slabs is $475/mt, with the loading port being Jingtang Port and the destination country being the Middle East.

[Sheets & Plates] Today, hot-rolled coil prices dropped by $2-3/mt. Except for medium-thickness plates, export prices of other sheets & plates also fell by $2-3/mt day-on-day, with transaction prices for hot-rolled coil at $488-497/mt. Market feedback indicates that exports of medium-thickness plates have been good recently and prices are relatively firm. Today, domestic futures broke below support levels, and the market inquiry sentiment was extremely bleak, with a wait-and-see approach prevailing.