Due to the upcoming New Year holiday, overseas trading atmosphere light, steel prices mostly stable operation.

 In Europe, steel demand stagnated over the Christmas holiday. In the past month, with the continuous rise of international steel prices, overseas merchants have increased the price of steel exports to Europe, which also brings confidence for the European local steel mills to raise prices. At present, the resource sales of some steel mills in January is in good condition. The factory price of mainstream hot coil in Germany is 690 euros/ton, up 80 euros/ton month on month.

 In Southeast Asia, recently most merchants mainly purchase local steel resources such as Formosa Ha Tinh, and the delivery price of SAE1006 hot roll is generally lower than $605 / ton. For SAE1006 hot coil, the Chinese steel mill markup is higher, the price is around $615 / mt CFR, while the Indian resources price is above $620 / mt.

 In Russia, only Turkish merchants have made active inquiries to Russian steel mills for billet resources recently. The mainstream 3sp billet quoted at $550 / ton CFR, and the counter-offer was below $540 / ton CFR. At present, Turkey’s local steel prices have continued to rise signs, some merchants may accept the price of Russian steel mills.