Weekly Review of International Steel Hotspots: Prices in the international steel market were mixed after the holiday, and the Southeast Asian plate market showed an upward trend (5.6-5.10)

This week, prices in the international steel market have gradually become clearer since May Day. The overall trading atmosphere is tepid, and some varieties are showing an upward trend under the support of reduced supply or strong demand. In terms of semi-finished products, mainstream billet quotations in Southeast Asia continue to run steadily. Currently, buyers’ counter-offer prices have increased, but the overall level is still lower than expected. Due to the current tense situation in the Middle East, Egypt's imported raw materials are facing transportation risks, and some infrastructure projects have been postponed. The demand for long products has declined, and the willingness to import billet has been further frustrated. Despite the recent fall in Iran's exchange rate, billet prices continue to remain stable due to a lack of supply. In terms of finished products, the overall situation shows a strong and weak operating trend. In terms of flat materials, quotations for hot coils for domestic trade in China have increased one after another, while transactions have weakened, with only a few inquiries. There is a strong demand for imported hot rolls in Vietnam, prices have risen further, and the market is showing an upward trend. India is currently in the election season, steel demand has dropped, supply has also decreased accordingly, and hot coil prices have increased again. In terms of long products, Vietnam's overall supply and demand has not improved much, and long steel prices have remained stable. The Turkish long products market continues to trade sideways with limited sales in the export market.