Export prices of Chinese steel sheets are following a downward trend in the domestic market. Buyers are likely to call everyone who looks appropriate, if there are only a few. Exports of Chinese steel sheets fell in the week ending Tuesday, May 25, following a downtrend in the domestic market, according to Metal Bulletin, citing local sales. It is likely that this downward trend in the Chinese market will continue. Please be with Artan Press.
*** Evaluating the Chinese steel sheet market from the perspective of Metal Bulletin
The global steel markets, and especially the Chinese steel sheet market, are in a situation where the entire steel chain has taken a downward path by controlling the price of iron ore. Foreign buyers who buy Chinese products are also waiting for prices to fall. In the current situation, all investors are looking to discover the trading price floor in the field of Chinese steel sheets. In addition to making more profit, this can also clarify their trading path.
*** Evaluate the price of Chinese sheets in world markets
Price estimates at Artan Press for heavy steel sheet exports, China’s main port in the form of FOB, for shipping in August were $ 900-940 per tonne on Tuesday, up from $ 105-120 per tonne from $ 1. $ 020-045 has dropped in price since last week. Due to this significant drop, according to reliable news, it has been proven that no transaction has been made in the last seven days. In a way, we are witnessing a heavy and deep recession in the Chinese steel sheet market.
*** Investors’ concerns about the current state of the sheet market
“This is a statement from one of the producers on the China Steel Exchange. Very few offers have been made and several state-owned factories have not made any offers. With China’s domestic [steel] prices falling, overseas buyers are reluctant to place an order.” A customer at Minmetals Yingkou Medium Plate in northern China acknowledged on Tuesday that the plant had offered $ 940 per tonne of FOB steel sheet to Southeast Asian buyers, a source said. “But this offer has not been welcomed. Customers seem to be waiting for further price reductions.”
*** Dull China Export Sheet Market
“China’s steel sheet exports to Southeast Asia are not doing well recently. Sheet prices are falling in all international markets. Exports to South America are not good either, and market participants prefer to wait and see what happens.” Shandong Province offered a price of $ 940 per tonne FOB on May 21, although a businessman source said export prices to Southeast Asia could not be made at these rates and resistance would likely be broken.
*** Evaluate the offered prices of steel sheets
On Wednesday, May 26, the latest bid price for Baotou Iron & Steel for China Steel Sheet is $ 870 per tonne FOB. Fastmarkets’ weekly assessment of the country’s domestic steel sheets shows that across China’s markets from the east and west of the country have accepted declining government-mandated prices. Due to the fact that buyers do not keep up with current prices, we are witnessing a victory in mandatory pricing in the Chinese steel sheet sector.
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