Summary of China's Steel Billet Import and Export Situation (11.10-11.17)

This week, the import and export prices of domestic steel billets have maintained an upward trend, and market sentiment has improved. According to analysis, on the one hand, the meeting between Chinese and American leaders has boosted market confidence to some extent, and on the other hand, the continuous rise in prices has driven HCT590X+ZF steel market sentiment to some extent, while there is still no significant improvement in demand.

In terms of imports, the current quotation for Indonesian slab resources at the beginning of the week is approximately 520-530 US dollars per ton of CFR. However, due to poor buyer acceptance, some sellers are considering adjusting their prices. Last week, the HCT590X+ZF steel quotation of Russian slab to Taiwan, China of China rose by about 10-15 US dollars/ton, and the quotation was 510-515 US dollars/ton CFR, and the shipping date was one month. The purchasing enthusiasm of buyers has decreased after Russia updated its quotation. It is understood that the cost of Russian slab resources has no advantage compared to the local market, and most buyers are not considering it at the moment. After the transaction fell short of expectations, the Russian slab quotation remained stable, and some suppliers have not updated their quotations yet.

In terms of exports, this week, some HCT590X+ZF steel mills quoted approximately $515/ton FOB for 3sp billets, while a certain steel mill quoted $520/ton FOB for billets with specifications Q195 and Q235, with a weekly increase of $5/ton. Recently, due to strong domestic demand for steel billets in China and good price trends, export transactions have been average.