Asian steel market rebound fatigue

Asian market consolidation operation, the rainy season continues to govern the terminal needs.

In India, the hot coil market stable. Since a week ago, the steel price increases successively 1000-1250 rupees / tonne (U.S. $ 17-21 / t), but the sluggish domestic demand and steel price increases no results, hot rolled mainstream ex-factory price remained at 33750-34250 rupees / t (563-572 U.S. dollars / ton), remained unchanged since April, reportedly transaction on large orders continue to decline. Steel market is expected to end or abandon price increases.

In Vietnam, the long steel market is expected to improve. As the Government actively take measures to cope with the credit crunch and inflation in the first half sales of long products in Vietnam construction increased slightly by 1.5% year on year to 2.27 million tons; including June sales rose 17.9% to 351,000 tons. After the rainy season is expected to demand for long products will continue to rise, demand will remain slow in the second half growth momentum.

In Korea, the steel market remained weak correction. HRC market continues bottoms. Pohang production SS400/3mm HRC prices in the local market remained at 72-73 ten thousand won / ton (639-648 U.S. dollars / ton), weekly chain flat. Market demand is low, but the inlet pressure eased. Since introduction of special steel products and imports of resource competition, the first half of this year, South Korea HRC imports fell 10%, of which imports from China fell by 23%. Export markets remain weak in the first half Korean HRC exports fell 17%. Expected short-term Korean HRC market will remain weak.

Korean rebar market weakness. Because of the recent attacks by heavy rainfall, the Korean construction industry demand sluggish, local SD400/10mm rebar price by the end of June 66-67 ten thousand won / ton (586-595 U.S. dollars / ton) narrowed to 660,000 won / ton (586 USD / ton). Given lower inventory levels and cut steel summer, some steel mills intentionally increased offer, but subject to import dual constraints and demand pressures, the market price is expected to implement difficult. It is reported that South Korean steel imports in the first half of this year, an increase of 5%, of which imports from China increased by 28%.

Bebon International offer all kinds of steel,stainless steel,bolier steel,shipbuilding steel.If you need,please contact us at any time.