Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
This week, influenced by the futures market, Asian hot coil QSTE380TM steel prices continued to decline. Currently, the price of SS400 (3mm) hot coils in Southeast Asia is at $520/ton CFR Southeast Asia, a decrease of $5/ton compared to the previous week. However, compared to other varieties, the QSTE380TM steel demand for SS400 hot coils is not high. The quotation for Q235/Q235B has decreased by nearly $15/ton within a week, and the market generally reflects poor demand, mainly due to concerns about further market decline. Similarly, the price of Q195 (3mm) has also decreased by about $15/ton within a week, to $510/ton CFR Vietnam, with actual transactions expected to be even lower. SAE1006 (3mm) has decreased by about $10/ton in the past week to $545/ton CFR. From the market perspective, there is still sufficient inventory of hot coils downstream. Therefore, they are willing to spend some time waiting for the hot coil prices to further decline, and currently they are still QSTE380TM steel purchasing in small quantities.
Similarly, the price of Indian hot coils is also showing a downward trend, with the IS2062 (2.5-10mm) hot coil price (excluding 18% value-added tax) at 623.77 USD/ton EXW Mumbai. Currently, it is still affected by the election, and demand is expected to recover to some extent in early April.
