One week review of international steel hot spots: Russia was still the largest semi-finished material supplier in Türkiye in January, and Southeast Asia slab quotation dropped significantly

This week, global A1011 CS Type D steel prices continued their downward trend from last week, with significant declines in semi-finished and long products, and a slowdown in the decline in sheet metal prices. Specifically, due to the fact that the Chinese government has not yet announced policies to stimulate economic recovery, coupled with weak downstream demand, it is difficult to boost spot steel prices. Driven by the decline in export prices in China, prices of semi-finished and long materials in Asia and Southeast Asia have generally declined, creating a strong wait-and-see atmosphere in the market. In Türkiye, although the export rebar A1011 CS Type D steel price has declined, some steel mills are still trying to maintain price stability. However, it is widely expected that scrap prices will continue to decline, and Türkiye's long steel market may continue to be dragged down. If the demand for imported square billets continues to weaken among local buyers, the prices of semi-finished products in the CIS region will also be under certain pressure. In the Middle East market, due to high tariffs, the domestic prices of long materials have slightly declined, while the prices of sheet materials have remained relatively stable. However, the upcoming Ramadan may limit their export activities. The long timber market in India is the only bright spot this week, and tight supply is the fundamental reason for the price increase. Whether actual demand can improve will depend on the market situation after the election. Overall, under the influence of oversupply and insufficient demand, it is expected that the international market sentiment will continue to be sluggish in the short term A1011 CS Type D steel .