Weekly review of international steel hot spots: Japan’s steel industry is hampered by the slowdown in manufacturing, and Turkey’s steel exports have strong recovery momentum (12.4-12.8)

Global ferrous metal prices have shown an upward trend this week, although consumer demand has not yet picked up significantly. The gains were mainly concentrated in Asia and the Middle East. Steel billet storage inventories in China's Tangshan region have declined slightly, but the ex-factory price of steel billets remains strong supported by rising raw material prices, while Iranian billet prices are stable, Russian resources have increased slightly, and the Vietnamese market has increased demand for billet imports, and Southeast Asian billet prices have increased The overall quotation price increased by about US$5/ton. Construction steel inventories in China, India, and Turkey have all decreased slightly, but the increase in demand is limited, and some steel traders continue to adopt a wait-and-see attitude. Egypt's rebar consumption is increasing month by month. However, under the influence of construction industry policies, market sentiment is still not optimistic. In addition, the price of Turkish hot coils has increased, but the export market is sluggish and the demand for imported hot coils has narrowed. Generally speaking, the international steel market has shown a positive trend, stimulated by tight supply of raw materials and seasonal increases in energy prices. However, as consumer demand has not yet picked up, the market is still cautious, and steel prices are expected to remain volatile in the short term.