In China, production remains at high levels, but seasonal demand weakness has led to rising inventories in HRC, CRC and rebar, while export prices are under pressure. Despite this, a limited recovery is seen in some domestic products. Large scale energy and infrastructure investments in China continue to support long term demand potential for high quality steel products. On the other hand, anti dumping measures from South Korea and India targeting Chinese origin HRC are adding further pressure on export markets.
In Southeast Asia, including Vietnam, Indonesia and Philippines, demand for HRC, scrap and CRC remains weak due to the monsoon season and subdued industrial activity, while prices are moving downward. In Vietnam, buyers remain on the sidelines, resulting in a stagnant market. Indonesia also drew attention after completing its first structural steel export worth USD 216000 to Canada.
In East Asia, South Korea has started applying five year anti dumping duties on hot rolled steel imports from China and Japan. Japanese and Chinese producers remain partially excluded under price undertaking agreements that grant limited exemptions. In Taiwan, prolonged rainfall has weakened the rebar market, with prices moving sideways.
In the Pacific region, Australia is accelerating its decarbonization efforts through testing of electric mining equipment, while coal and iron ore prices remain stable due to weak demand.
In India, SAIL used 5700 tons of DMR 249A steel in naval projects, strengthening domestic supply in the defense sector. At the same time, a new anti dumping investigation has been launched on CRGO steel imports.
Overall, the global steel market continues to operate under weak short term demand, high inventories, trade barriers and regional protectionist measures, while China’s infrastructure and energy investments and Asia’s value added production initiatives provide medium to long term support for the sector.
Current steel prices
- Rebar (HRB400E Φ20): USD 487/mt
- HRC (4.75 mm): USD 492/mt
- CRC (1.0 mm): USD 563/mt
China (export CFR Türkiye)
- Billet: USD 518/mt
- HRC: USD 542/mt
- Wire rod: USD 560/mt
- HRP: USD 600/mt
- GI: USD 625/mt
Vietnam
- HRC (CFR): USD 545–555/mt
Philippines
- Rebar (EXW): USD 525–535/mt
India
- Square billet (EXW): USD 451/mt
Indonesia
- Square billet (FOB): USD 478/mt
- Billet (Dexin): USD 475/mt
- Slab: USD 495/mt
- Wire rod: USD 498/mt
Comments
No comment yet.