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China steel exporting prices rose against the backdrop of a weaker dollar.

International market

Under the background of rising raw material prices, global steel prices continued to rebound, especially in the US market, several leading steel manufacturers raised the prices of all flat products by around US$60/ton. In the Asian region, steel prices rose overall due to a slightly weaker dollar.

China steel exporting prices rose against the backdrop of a weaker dollar scaled

Overview of the export market

Hot-rolled coils: Compared with last week, the actual changes in the export quotations of hot coils from China’s leading steel mills are relatively small, but the actual export transactions are relatively differentiated, and the prices of mainstream resources have risen. There is a decline. The quotations of several leading steel suppliers in China for SS400 hot coil are as high as US$580-585 FOB/ton, the quotations of Northeast steel mills are around US$575/ton FOB, and the quotations of North China steel mills are more differentiated at US$560-580/ton FOB. The price is 10-15 US dollars / ton higher than last week. China’s hot coil quotations to Turkey are about US$585/ton CFR, which is equivalent to US$535-540/ton FOB, which seems to have little change compared with last week. The exchange rate is not conducive to exports, and the actual US dollar transaction price of steel mills has suffered losses due to the inability to keep up with the rise in domestic trade.

Cold rolled coil: All the quotations of cold plate in China have risen, the range is about 5-8 US dollars/ton. Among them, the mainstream quotation of SPCC cold-rolled coils rose to 620-630 US dollars/ton FOB. Thai importers reported that the price of Chinese cold-rolled annealed coils received on Thursday was US$640/ton CFR Bangkok. The price of 80G/M2 hot-dip galvanizing is concentrated at US$670-680/ton FOB, and a small number of low-price offers reach US$665/ton FOB. The quotation of galvanized coil is 680-685 US dollars/ton FOB, and the transaction status of galvanized steel and galvalume steel is acceptable. Thai importers reported that the price of Zinc60  aluminum-zinc coil in China reached US$700/ton CFR Bangkok this week, which was US$20/ton higher than two weeks ago. According to the feedback from Chinese exporters, the export price of cold plate products has risen due to the exchange rate, and the export orders for ordinary cold coils and low-zinc hot dip galvanized steel products have increased.

Wire rod: The increase in China’s wire rod export is not obvious, and most steel mills maintain their offers at the level of last week. The transaction level of China’s rod is 558 US dollars/ton, which is stable from the previous month. Due to high costs and unfavorable exchange rates, most mills are reluctant to lower export prices.

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