Review of international steel hot spots this week: Vietnam's overall demand for long products has not improved much, and Black Sea steel prices remain stable (June 7-June 14)

This week, steel prices in Asia generally fell, while those in the Middle East and CIS remained stable. In Asia, Chinese plate prices weakened overall, and transactions were sluggish. Medium and thick plates continued to be weak, with fewer inquiries and less transactions than hot-rolled coils. Long product prices fell slightly, and transactions were weak. Billet prices continued to weaken; the overall demand for steel in the Vietnamese market did not improve much, long product and hot-rolled coil prices remained stable, and medium plate transactions were not large. Due to EU quota restrictions, exports of hot-rolled coils and wire rods decreased. The region is in the rainy season, which has affected steel transportation; the current billet inventory level in the Philippines is not high, and the expectation of replenishment still exists. The Indian hot-rolled coil market is deserted, with low inventory and no obvious demand. In the Black Sea region, Russian billet prices remain stable and more competitive than those in Asia, but transactions have not improved. The Iranian billet market has slow exports, and steel prices have remained stable after hitting the bottom. Affected by high temperatures, steel production has declined. Turkish rebar prices remain stable, imported scrap prices remain unchanged, and the market remains strong.