International Steel Market Daily: Demand Rebounds Slightly

Today, affected by the sharp drop in domestic futures prices, domestic spot prices continued declining, and steel exporters lowered their export quotations. Among them, the prices of hot-rolled coils and medium and thick plates fell the most, by 14 and 10 US dollars per ton respectively.

In terms of international steel prices, affected by weak demand, the prices of hot-rolled coils in Southeast Asia and Europe have fallen. The import price of rebar in Hong Kong, China has also fallen. Despite this, the prices of some products such as scrap steel and billets remain stable.

From a single country perspective, the price of hot-rolled coils in the Midwest market of the United States has risen sharply, with a weekly increase of 1.94%, and the cumulative increase since mid-July has reached 13.55%. Due to the uncertainty of the overall economic environment, local dealers are cautiously optimistic about the demand recovery. The local market in the United States believes that even if the current hot-rolled price has increased significantly, the space and amplitude of continued increases in the future are limited.

For steel pail factories, this is a period of caution. If you rashly follow the decline in purchases, you will bear the risk of continued decline in material prices. At present, steel pail factories have different costs due to different procurement stages, and the quotations are relatively chaotic.