[SMM Steel] 7.16 SMM Global Steel Daily Report

Published: Jul 16, 2026 18:39

Save

[Iran] Strait sinking and tightened sanctions cripple Iran's semi-finished exports

Amid escalating geopolitical tensions, the effective closure of the Strait of Hormuz and a new round of US naval activity from July 14, Iran's semi-finished import/export market was quiet this week. A bulk carrier loaded with 43000 tonnes of billet collided and sank in the Strait of Hormuz, adding shipping uncertainty and leaving many vessels stuck at anchorage or cancelling voyages, forcing all seaborne export tenders to halt. Some mills tried offers at 410-415 USD/tonne FOB, but international buyers largely withdrew, with only small billet truck deals booked at the Afghan border. Meanwhile tight supply lifted domestic billet to 423 USD/tonne, sharply inverting domestic and export prices.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

MMi Daily Iron Ore Report (July 16)

The iron ore market saw narrow fluctuations today, with the DCE main contract I2609 eventually closing at 759.5 RMB/ton, unchanged from the previous day.

1 hour ago

Common.Time.hoursAgo

[SMM Hot-Rolled Coil Daily Trading Volume] Spot trading volume consolidates near the bottom.

[SMM Hot-Rolled Coil Daily Trading Volume] On July 16, the total daily trading volume of hot-rolled coil from sample enterprises in four SMM cities (Shanghai, Lecong, Tianjin, Ningbo) reached 12,620 mt, down 280 mt, or 2.3%, day-on-day, and up 9.36% YoY on a calendar basis while down 0.94% YoY on a lunar calendar basis.

Common.Time.hoursAgo

[China Iron Ore Brief] Iron ore concentrate prices in East Liaoning are likely to remain in the doldrums

Common.Time.hoursAgo