US HDG market is weak, scrap prices are expected to continue to rise

The price of the single-barrel billet rose slightly

In recent weeks, CIS and Turkish billet prices have remained stable. The overall performance of the Middle East market, including Egypt, was weak, so billet prices in the region remained unchanged. In addition, Turkish steel mills are not interested in billets from the CIS and Southern Europe due to weak demand for steel from the Middle East and North Africa.

Currently, the price of the CIS billet is $380/ton. ~400 US dollars / ton, an increase of 10 US dollars / ton from last week.

EU hot rolled coil demand began to recover

Even if the current import price is lower than European steel The manufacturer’s offer, buyers of European hot rolled coils may start buying products because there is room for bargaining. As some domestic dealers began to replenish stocks, demand gradually recovered. In addition, there are some traders who are increasingly interested in imported products.

Hot rolled steel coil offer from the Commonwealth of Independent States to the European Union Very stable, the price of the products shipped in June is 300 euros / ton ~ 350 euros / ton. Mexico’s offer is between €300/ton and €320/tonne. In addition, the EU’s cold-rolled coil prices have also rebounded slightly, but it is not expected to grow much, as demand remains sluggish.

The domestic HDG market is still weak and the scrap price is expected Continue to rise

Since last week, the United States The import price of hot dip galvanized coil (HDG) has remained stable, but the price of this product in the United States has dropped further during the same period. Many US steel producers are engaged in price wars to maintain market share. At present, the price of HDG in the US market is about US$507/ton~$551/ton, which is the same as last week, but the steel mill’s surcharge of US$20/ton was rejected.

In addition, scrap prices are expected to continue to rise in May, It may push the price of flat products to rise. But as long as the demand does not improve, the buyer will not accept the rising price.

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