Weekly Review of International Steel Hotspots: Poor demand, global steel prices continue to decline, buyers wait and see insufficient downstream support in the short term (3.29-4.7)

This week, the overall global steel price continued its downward trend, and the transaction situation has not improved yet. In terms of semi-finished product prices, the overall quotation of steel billets in Southeast Asia fell by about US$5/ton, and the quotations in the CIS region were also lowered. However, the price of steel billets in the Middle East strengthened slightly. Mysteel heard that Iranian billet had a higher transaction price, with the transaction price of US$484/ton. FOB, destination unknown. Although China's billet export prices rose slightly this week, the overall decline in China's billet quotations has been relatively obvious in the past two weeks. Due to the large fluctuations in China's export quotations, most overseas steel billet buyers are currently in a wait-and-see mode, waiting for lower quotations to appear. . In terms of finished product prices, the performance of long products is similar to that of billets. Long steel prices in Southeast Asia also continued to fall this week. The wire rod quotations of a mainstream steel mill in Indonesia fell by US$10/ton week-on-week. The wire rod quotations in Vietnam remained unchanged, but the rebar quotations fell. Although prices have fallen, buyers are still mostly waiting and watching due to sufficient inventory. In terms of flat materials, China's flat steel export prices have diverged this week. However, due to the holiday, there is less overall offer information and the order situation has improved slightly. China's medium and thick plate export prices continue to fall. The international market has a bearish sentiment and weak demand.