Asian steel market rebounded slightly in the first half of November

In the first half of November, the Asian steel market rebounded slightly. The benchmark steel price index in the region was 109.7 points, up 1% on a week-on-week basis (the increase expanded), down 0.3% on a month-on-month basis (the decline converged), down 9.5% on a year-on-year basis (the decline converged), and down 10% on a year-on-year basis.

Flat steel material: the market price fluctuates.
In India, steel mills recently raised their hot rolled steel coil export prices by 10-15 US dollars per ton. Some industry insiders said that the increase in export prices by Indian steel mills also boosted import prices.

According to data, the current price of hot rolled steel coil exported to India is 415-425 US dollars / ton (FOB), about 10 US dollars / ton higher than the previous price.

It is reported that most of India's hot rolled steel coil manufacturers have sufficient hot rolled steel coil orders by the end of December, and some steel mills have already filled their hot rolled steel coil orders in December. For this reason, Indian steel mills have also raised the price of domestic hot rolled steel coils in India. The ex factory price of domestic hot rolled steel coils in India is INR 32500-33000 (US $459-466) / ton, which is 500 rupees (US $7) / ton higher than before.

In Vietnam, the price of imported hot rolled steel coils (mainly China's 2-3mm re rolled SAE1006 hot rolled steel coils) is 430-440 US dollars / ton (CFR), up 10-20 US dollars / ton.

As to November 12, India's offer to export hot rolled steel coils to Vietnam has risen to $440 / ton (CFR), including re rolled grade hot rolled steel coils exported to northern Vietnam. A South Korean steel producer's quotation for hot rolled steel coils exported to Vietnam in back-to-back trade was maintained at 440 US dollars per ton (CFR).

Some local traders said that at present, the market generally expects that the price will continue to rise. Because Vietnam's end-users' bids for delivery of hot rolled steel coils in December and next January have also risen to 430 US dollars per ton (CFR).

More traders said that the price range of imported hot rolled steel coils in Vietnam is mostly 430-440 US dollars per ton (CFR), but it is difficult for sellers to order the imported hot rolled steel coils with the price below 435 US dollars per ton (CFR).

As of November 12, the import price of ASEAN hot rolled steel coil was 431 US dollars / ton (CFR), 17 US dollars / ton higher than before. The average export price of ss400b3-12mm hot rolled coil in China was 440 US dollars / ton (FOB), down 10 US dollars / ton.