Recently, domestic steel demand has weakened, and steel prices have shown a broad downward trend. Affected by this, China’s steel export quotations have been lowered accordingly. According to Mysteel’s understanding, some large state-owned steel mills still suspend HRC export orders. Small and medium-sized steel mills are quoting US$810-820/ton FOB, compared with the prices of Russia US$840/ton FOB and India’s US$865/ton FOB. Southeast Asia Customers have a strong intention to purchase Chinese resources. At the same time, China’s mainstream cold coil export quotes are around US$920/ton FOB, and DX51D+Z (120g) galvanized export quotes are below US$1,000/ton FOB. Inquiries from overseas customers have increased significantly compared with early October.

Recently, domestic steel demand has weakened, and steel prices have shown a broad downward trend. Affected by this, China’s steel export quotations have been lowered accordingly. According to Mysteel’s understanding, some large state-owned steel mills still suspend HRC export orders. Small and medium-sized steel mills are quoting US$810-820/ton FOB, compared with the prices of Russia US$840/ton FOB and India’s US$865/ton FOB. Southeast Asia Customers have a strong intention to purchase Chinese resources. At the same time, China’s mainstream cold coil export quotes are around US$920/ton FOB, and DX51D+Z (120g) galvanized export quotes are below US$1,000/ton FOB. Inquiries from overseas customers have increased significantly compared with early October.