Recently, Steel prices in some overseas regions continue to show a slight downward trend. In the past month, most Middle Eastern merchants have mainly purchased Chinese plate resources, and the price advantage of Russian Plate is not obvious. As of last Friday, the mainstream S235JR Hot Coil export quotation dropped to US$725/ton FOB Black Sea, a decrease of US$25/ton compared with surrounding areas.

From the perspective of Southeast Asia, with the decline of China’s steel price today, the counter-offer price of Chinese common coil resources from Southeast Asian merchants is generally lower than 630 US dollars / ton CFR, about 620 US dollars / ton FOB China. At present, the export quotations of large Chinese steel mills are relatively high. On the one hand, the export orders for the May shipping schedule are better, and the Steel mills have fewer orders for sale. Southeast Asian customers are more cautious about purchasing orders for the June shipping schedule; on the other hand, The price of raw material iron ore remains high, the production cost of steel mills is relatively high, and the willingness to significantly reduce prices for exports is not strong.