Asian rebar prices are relatively stable Türkiye steel mills cut prices of long steel products

China's domestic trade:
This week, the price of construction steel in the Beijing Tianjin Hebei market has significantly increased, with an overall increase of 30-50 yuan/ton, and the transaction performance is average. In terms of resource supply, the market received average goods this week, and social inventory continued to decrease. As of the 27th, the social inventory of building materials in the Beijing Tianjin Hebei region reached 670300 tons, a decrease of 19200 tons or 2.78% compared to last week. This week, black series futures are trending stronger, and the sentiment in the spot market has been boosted. Affected by the mentality of buying up instead of buying down, market transactions have increased compared to last week.

Chinese exports:
In terms of threaded steel, the export price of Zhangjiagang B500B threaded DX51D+Z80 steel is estimated to be 549 US dollars per ton, a decrease of 6 US dollars per ton on a weekly basis. In terms of wire materials, export prices have slightly decreased this week. At present, the main DX51D+Z100 steel mills are quoting between 530-545 US dollars per ton FOB, with a decrease of 5 US dollars per ton compared to the previous week. Some steel mills' basic quotes have reached 550 US dollars per ton FOB. Currently, the sentiment in the Chinese wire rod export market is poor, and buyers' willingness to purchase has decreased. Offers from Africa and South America have also declined, ranging from $500 to $510 per ton FOB, with a weekly decrease of $5 per ton. In addition, the export quotation for low-carbon wire rods from Hebei No.1 Steel Plant was $505 per ton, a decrease of $5 per ton compared to the previous week; The export quotation for low-carbon wire rods from Jiangsu Steel Plant is 540 US dollars per ton.

Asia:
This week, Asian rebar prices remained relatively stable, with buyers cautious and cautious. Recently, Malaysia's quotation DX51D+Z120 steel for Singapore was around $540/CFR, which remained relatively stable compared to last week, with a shipping schedule of December.

However, the tradable price ranges from $534 to $535 per ton of CFR (calculated weight). In the case of abundant inventory, downstream participants' purchasing interest weakens, and the overall trading atmosphere in the market is poor. In addition, Chinese rebar exporters are currently actively seeking buyers. In terms of the Vietnamese market, the Vietnamese long timber market has stabilized this week. The price of HoaPhat's wire CB240 is about 548 US dollars per ton, and the price of deformed steel D10CB300 is about 560 US dollars per ton. As of today, the prices of HoaPhat wire and threaded steel have remained unchanged for two months. It is understood that the consumption of construction steel by major steel mills in Vietnam in October is continuously decreasing compared to September, with the consumption of construction steel by Hefa decreasing from 353000 tons in September to 175000 tons. The main reason is still that the real estate and civil construction industries have greatly affected the demand of Vietnam's steel industry, resulting in a small increase in domestic demand, but a large supply, low import resource prices, and continuous decline in domestic steel prices in Vietnam. Based on the current situation, many enterprises believe that stabilizing steel prices and restoring the industry market not only stimulates investment demand, but also needs to promote real estate projects, engineering, and public investment projects. The recovery of public investment and the real estate market will also be a positive signal for the steel market.

Türkiye:
In the week ended October 27, Türkiye DX51D+Z Steel Mill's rebar export quotation was about 550-565 dollars/ton FOB, down 10-20 dollars from last week