【SMM Steel】Australia starts AD investigation on galvanized steel imports from South Korea, Vietnam

[Flat products] HRC export deals rise to 488-494 USD/tonne, overseas inquiries lag futures rally On 15 July, HRC and other flat-product export prices rose 1-2 USD/tonne day-on-day, with HRC deals at 488-494 USD/tonne. Chinese futures rallied for a second session, but with overseas prices holding flat, foreign buyers did not step up inquiries in response to the domestic rally; a few grades saw limited deals as the increase was modest. [Billet] Export billet FOB up 1-2 USD/tonne, Jiangyin at 458-460 USD/tonne On 15 July, export billet FOB prices rose 1-2 USD/tonne, with Jiangyin port quoted at 458-460 USD/tonne. Market feedback indicated buyers in Southeast Asia were pushing hard on price, while Chinese mills, mindful of production costs, had limited room to concede, making deals difficult to close. [Rebar] Rebar export offers up 1 USD/tonne, overseas price pressure keeps deals subdued On 15 July, rebar export offers edged up 1 USD/tonne. Traders reported that although export quotes tracked the futures gain, overseas buyers continued to press on price, and actual inquiries and deals showed no clear improvement.

[SMM HRC Daily Trading Volume] On July 15, the total daily trading volume of hot-rolled coils among SMM sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) was 12,900 mt, up 510 mt, or 4.5%, day on day, up 10.45% YoY in Gregorian calendar, and down 0.54% YoY in lunar calendar.

Today, the iron ore market showed strong performance on the Dalian Commodity Exchange (DCE), with the benchmark contract I2609 ultimately closing at 762 RMB/ton, up 1.13%.