Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
This week, a Filipino A387 Grade 11 steel buyer placed a square billet order at a price of $455 CFR per ton, with a quantity of 20000 to 30000 and a specification of 5sp. According to market information, the seller is an international trader. Due to the rise in steel market prices in China and other regions, buyers have started to actively purchase, driving a rebound in demand. Market sources pointed out that the recovery of steel demand is mainly affected by the rise in prices in the Chinese market.
Meanwhile, a mainstream steel mill in Indonesia A387 Grade 11 steel has raised its steel billet quotation from $438/ton FOB to $450/ton FOB this week. This price adjustment reflects the strengthening of market demand, indicating that the sentiment in the Asian market is gradually becoming optimistic. With the recovery of demand, the steel market has begun to show a positive price trend.
The recent rebound in Asian market sentiment is closely related to multiple factors. Firstly, climate factors have become an important variable affecting the market. A cyclone system is forming on the northwest coast of Australia, which could lead to disruptions in local steel raw material production. The Australian Bureau of Meteorology report states that the Pilbara region of Western Australia is experiencing sustained thunderstorms and heavy rainfall, which may have an impact on mining operations and pose a potential threat to ore supply. This factor has driven up the price of Chinese steel raw material futures, and the increase is significantly higher than other iron ore futures.
In addition, the rebound in demand for rebar has also had a positive impact on the market. The consumption of rebar in major cities in China has increased significantly compared to last week, which directly drives the market's intention to purchase steel and further supports price increases.
In addition, recent media reports have indicated that the US government may consider ending the US China trade war, which has boosted market confidence and boosted sentiment in the Asian steel market.
In summary, the Asian A387 Grade 11 steel market has shown a strong rebound trend recently, influenced by multiple factors, with prices gradually rising and market sentiment tending towards optimism. In the coming weeks, the direction of the market may still be influenced by the ongoing climate change and international trade situation.
