🏭 Scrap Steel Purchase Prices Adjusted by 57 Steel Mills 📉

My Steel Network News: As of July 10th, by the time of writing, 57 steel mills have reduced their scrap steel purchase prices, while 1 has increased.

📊 Scrap Steel Price Adjustments by Region 📈

East China Region 🌏

On July 11th, Jiangyin Huaxi Special Steel in Jiangsu increased the price of rebar granules by 70 yuan, and reduced some material types by 20 yuan per ton.

On July 10th, Dan Yang Longjiang in Jiangsu decreased by 20 yuan: rebar granules 2650, steel plate material 2650, excellent heavy 2620, heavy waste 2600, mechanical pig iron 2550, punch 2590, medium waste 2500, shearing 2370, silicon steel sheet 2580, rebar head 2590, tax not included, unit: yuan/ton.

North China Region 🏙️

On July 10th, Tangshan Rui Feng in Hebei decreased by 10 yuan: rebar press block 2760, flower iron press block 2800.

Central China Region 🌄

On July 10th, Anxin in Henan partially decreased scrap steel purchase prices by 10 yuan per ton, tax not included.

South China Region 🏝️

On July 11th, Zhuhai Yuyuanfeng in Guangdong decreased by 20: rebar granules 2900, rebar press block 2800, fine scrap steel 2800, industrial heavy scrap 2790, ship dismantling scrap 2790, tax included at 13%, unit: yuan/ton.

Southwest China Region 🏔️

On July 10th, Dou Steel in Sichuan decreased scrap steel purchase price by 20 yuan per ton.

Northwest China Region 🏜️

On July 10th, Kunlun Steel in Xinjiang decreased all scrap steel by 30 yuan per ton.

Northeast China Region ❄️

On July 11th, Jianlong Asteel in Heilongjiang uniformly decreased scrap steel prices by 30 yuan per ton.

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📉 6 Steel Mills Cut Prices, Spot Steel Prices Fall Below 3500, Steel Prices Continue to Weaken

📊 Steel Spot and Futures Price Summary

On July 10th, the domestic steel market fell. The Tangshan Qian'an general square billet ex-factory price including tax dropped by 20 to 3260 yuan/ton. In terms of transactions, the decline in futures prices has intensified the pessimistic sentiment in the market, slowing down the pace of terminal purchases, frequent low-priced resources, and the overall market transaction continued to decline.

📈 Futures Price Movement

On July 10th, the main contract of rebar futures closed at 3478, a decrease of 0.91% from the previous trading day. The DIF and DEA overlapped, and the RSI indicator lines were between 28-40, operating between the middle and lower tracks of the Bollinger Bands.

🔨 Adjustments in Steel Mill Prices

On July 10th, 6 steel mills reduced the ex-factory price of construction steel by 20-30 yuan/ton.

📉 Daily Price Trends for Steel Grades

Rebar:

On July 10th, the national average price for 20mm Grade 3 earthquake-resistant rebar in 31 major cities was 3590 yuan/ton, a decrease of 19 yuan/ton from the previous trading day. In the short term, the current supply-demand contradiction cannot be fundamentally improved, and it is expected that the construction steel price will maintain a weak operation trend on the 11th.

Hot-rolled Coil:

On July 10th, the national average price for 4.75mm hot-rolled coil in 24 major cities was 3690 yuan/ton, a decrease of 14 yuan/ton from the previous trading day. Currently, the market is in a traditional off-season, and downstream rigid demand is difficult to significantly improve. On the supply side, most steel mills are at a break-even point, with no expectation of significant production cuts at present, and pig iron is at a relatively high level, with limited expectations for raw material purchases, and cost support is relatively weak. Overall, supply is strong and demand is weak, and it is expected that the price of hot-rolled coil will tend to be weak on the 11th.

Cold-rolled Coil:

On July 10th, the national average price for 1.0mm cold coil in 24 major cities was 4154 yuan/ton, a decrease of 13 yuan/ton from the previous trading day. The current off-season sales pressure on cold-rolled coil is gradually increasing, and with no significant reduction in supply, the inventory reduction speed is slow, and merchants can only choose to fall in price first to ensure transactions. In terms of mentality, the current spot market demand is flat, and merchants are cautious and slightly pessimistic about the future market. It is expected that the national cold-rolled coil spot price will be weak and stable on the 11th.

Plate:

On July 10th, the national average price for 20mm general plate in 24 major cities was 3727 yuan/ton, a decrease of 13 yuan/ton from the previous trading day. The market fluctuated downward throughout the day, the market mentality weakened, coupled with insufficient downstream purchasing strength, and the transaction performance of the whole day's plate was poor, with some market quotations slightly falling. In terms of resources, as prices adjust, the current North-South price difference has been somewhat repaired, but considering the poor market delivery, traders are not willing to stock up actively, and the amount of locked orders for North-South materials in the short term is relatively small. Overall, considering the poor demand performance, it is expected that the national plate price will continue to be weak and adjusted on the 11th.

📉 Daily Price Trends for Raw Materials

Iron Ore:

On July 10th, the prices of mainstream imported iron ore varieties at Shandong ports were weak and fell by 15-20 compared to the previous working day. On the seller's side, the enthusiasm of traders in the region to quote was average, mainly suitable for shipping, and there was little transaction in the spot market so far; the inquiry and offer sentiment in the Shandong distant month market was still acceptable, with a small amount of PB powder transactions at the end of August; on the buyer's side, some steel mills in the region replenished the warehouse as needed and maintained low inventory operations, with few inquiries. Currently, the mainstream of PB powder is between 808-813; the mainstream of super special powder is between 640-645; the mainstream of card powder is between 970-975 (unit: yuan/wet ton).

Scrap Steel:

On July 10th, the average price of scrap steel in 45 major markets was 2393 yuan/ton, a decrease of 6 yuan/ton from the previous trading day. Most of the steel mill's scrap purchase prices were adjusted downward, with an amplitude of 10-50 yuan/ton, while the base purchase price adjustment range was smaller. At present, the off-season characteristics are highlighted, the terminal demand for finished products is not good, and most areas are hot and rainy, restricting the pace of scrap steel transportation. The market has continued to decline, so the psychology of market merchants selling down and not selling up appears, and recently the arrival of scrap steel at steel mills and yards has improved. However, the difference between the waste board and the waste board continues to narrow, the steel mill is under pressure to increase production difficulty, and the scrap steel lacks cost-effectiveness compared to iron water. Therefore, overall, it is expected that the scrap steel market will continue to narrow down on the 11th, with an amplitude of 30-50 yuan/ton.

Coke:

On July 10th, the coke market price was temporarily stable. At present, the coke enterprises are mostly at a high level, some coke enterprises have approached full production, transportation and shipment are smooth, and the factory coke is running at a low inventory. On the raw material side, the price of coking coal fluctuates, and the procurement pace of coke enterprises is average, the market is still quite watchful, and the coke enterprises are cautious in procurement, maintaining low raw material inventory operations; downstream steel mill steel prices are weak, the transaction situation of finished products is not good, and the iron water output continues to rebound. The short-term coke market price is expected to be temporarily stable.

🔮 Steel Market Price Forecast

The weak trend of steel demand in the off-season is difficult to change, maintaining a weak supply and demand situation. Recently, the port inventory and port arrival volume of iron ore have continued to operate at high levels, especially the inventory of 45 ports is close to 150 million tons, and the supply and demand contradiction of iron ore has intensified, and the ore price has fallen from a high position. Due to the weak steel market fundamentals, the short-term steel price may continue to fluctuate and be weak.

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Contact Information:

• Website: https://www.metal-ae.com/www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

Baogang's First Batch of Ultra-Long Wind Power Steel Successfully Delivered

In early July, Baogang Steel's wide and heavy plate production line successfully produced and delivered an ultra-long wind power steel with a length of 18.8 meters to customers. This marks the first batch production of ultra-long wind power steel by Baogang Steel.

As a clean source of energy, wind power plays a significant role in the adjustment of China's energy structure, and the accelerated layout of clean energy has driven a strong market demand for wind power steel products. Baogang Steel is one of the earliest companies in China to develop wind power steel, and the thin plate factory's wide and heavy plate production line is the production line with the highest output of onshore wind power steel in China. After more than ten years of research and production, Baogang Steel's wind power steel has long become a well-deserved "punch product". In recent years, to enhance power generation, the blades of the "big windmill" have gradually become longer, and the height and diameter of the wind power tower that matches it have also increased accordingly. As the raw material for the production of the tower, the wind power industry's requirements for the length of wind power steel have also changed accordingly. Ultra-long wind power steel with a length exceeding 17.5 meters has a broad market prospect. Baogang Steel quickly targets the ultra-long wind power steel market and strives to expand the range of product specifications.

It is reported that after the first batch of ultra-long wind power steel was delivered to the users, it received good feedback, and other such products are being organized for production. The "upgrading" of Baogang Steel's wind power steel has further consolidated its position as a "punch" product, laying a solid foundation for enhancing market competitiveness.

📉 Baosteel Group's Factory Prices Mostly Down in August Amid Downstream Order Deviation and Increased Competitive Pressure

According to My Steel Network, in August, the ex-factory prices of Baosteel Group have largely been reduced based on the prices in July. This price adjustment is mainly to cope with the domestic off-season consumption, and the pressure to order has increased. Especially for some core varieties, the impact is relatively large, making it difficult for prices to show a rebound pattern.

🔍 Product Perspective

The entire series of hot-rolled products are under high pressure. The core issue is still that the profit from black goods is still stronger for sheet products than for long products. Therefore, the consumption pressure on hot-rolled, cold-rolled, and galvanized products rises during the off-season, forming a situation where supply does not decrease, demand declines, profits are positive, and supply and demand are loose.

📊 Price Adjustments

• Thick plate base price down by 100;
• Hot-rolled base price down by 100;
• Pickling base price down by 100;
• Non-oriented silicon steel base price unchanged;
• General cold base price down by 100;
• Hot galvanized base price unchanged;
• Electro-galvanized base price unchanged;
• Medium aluminum zinc-aluminum magnesium base price down by 100;
• High aluminum zinc-aluminum magnesium base price unchanged;
• Aluminum-plated zinc base price unchanged;
• Color coating base price unchanged.

For August, the hot-rolled Q235B tax-inclusive base price is 5302.85 yuan/ton; cold-rolled DC01 tax-inclusive base price is 8154.29 yuan/ton; hot galvanized DC51D+Z tax-inclusive base price is 8934.73 yuan/ton; silicon steel is 6038.6 yuan/ton (the above are estimated prices, the actual prices are subject to the price list).

📈 Order Pressure and Market Outlook

Baosteel Group's orders in August are under greater pressure compared to July. In addition to domestic trade pressure, the decline in overseas prices has led to an increase in export order pressure. Downstream orders are not abundant, and currently, they are only replenishing inventory without hoarding and speculative behavior. This is the core issue of the lack of global liquidity, which makes it difficult for demand to rebound.

Looking at the next month, whether the price will remain stable depends on more factors, and we will also make a rough analysis:

1️⃣ High Interest Rates Abroad and Liquidity Pressure

The Federal Reserve's interest rate cuts have not decreased, which has suppressed liquidity overseas, especially in countries with a shortage of foreign exchange, causing a suppression of purchasing power. From the current U.S. data, the core PCE continues to operate at a high level, and the core inflation has not decreased. Employment is relatively poor, making the probability of short-term interest rate cuts still maintained, but it is difficult to land. The difficulty of interest rate cuts before September continues to be maintained, making global liquidity continue to be compressed, making it difficult to release overseas purchasing power, and export pressure still exists.

2️⃣ Off-Season Consumption and Difficult Recovery Expectations

Entering the off-season consumption of the manufacturing industry in July, the Mysteel survey shows that the manufacturing industry's inventory still needs a longer time to be digested, so it is difficult for domestic consumption to rebound in the short term, which is still low for downstream procurement enthusiasm. Looking at the PMI structure, the order on hand is low, and it is difficult for new orders to increase, and the support strength of rigid demand is poor without obvious policy introduction. For domestic consumption in August, the variable is not large, and exports are still in a supporting situation, making it difficult to appear rapidly.

3️⃣ Profit Still Exists, Supply is Difficult to Decrease, and the Supply and Demand Structure Continues to be Loose

In July, the steel mill maintenance volume was flat compared to June. Currently, the maintenance expectation in July has been postponed, and the increase in new production lines has also increased. In addition, the profit of deformed steel bars is negative, and the profit of hot-rolled coils is positive, which also makes the output bias more clear. At present, the point-to-point profit of the steel mill is maintained at 40-50 yuan/ton, although it has been greatly compressed, but it can still maintain production, and the short-term reduction expectation will appear. Therefore, the output is maintained at a high level, and the consumption off-season pressure appears, and the supply and demand contradiction in July is still large, and the contradiction in August may continue to accumulate, which is difficult to support the confidence of the downstream.

📝 Conclusion

Overall, the base price of Baosteel Group in August has been reduced, and the main core contradiction comes from the domestic consumption off-season and the gradual pressure of overseas exports. Secondly, the output is maintained at a high level, causing inventory to accumulate. At present, the supply and demand contradiction is under seasonal pressure, and corporate procurement is cautious, with low orders on hand, and the supply is strong and weak pattern is reflected.

Based on this reason, it is difficult for the factory price of the steel mill in September to rise until the supply and demand are balanced, and the inventory shows a de-stocking structure.

🏢 About Americ Energy (CHINA) Co., Ltd.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: https://www.metal-ae.com/www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

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About Americ Energy (CHINA) Co., Ltd.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

ISI Marking Requirement for Stainless Steel Products in India Amidst Suspected Fake BIS Declarations

Emerging Markets: Asia Continues to Drive International Growth

Since the beginning of this year, the MSCI Emerging Markets Index has reached a performance of 12%. The driving force behind the index is Asia, with a surge of up to 16%.

Asia Expected to Remain a Catalyst for International Growth

Asian emerging and developing countries are likely to continue to be the driving force for international growth in the coming years, benefiting businesses and stock markets in the region. The International Monetary Fund predicts an average annual economic growth rate of 4.6% for Asia over the next five years. Analysts also expect the profit growth rate of Asian companies to reach up to 22%.

Europe: Spanish and Swiss Enterprises Leading in Profit Growth?

In Europe, it is currently expected that Spain and Switzerland will have a profit growth rate as high as 20%. In these industries, utilities (18%) and the energy sector (about 13%) may lead the highest profit growth rates, positively impacting the European market.

India: Mandatory ISI Marking for Stainless Steel and Aluminum Products

The Indian government has recently mandated the use of the ISI mark for stainless steel and aluminum kitchen utensils. According to this regulation, all stainless steel or aluminum utensils must bear the ISI mark, indicating compliance with the Bureau of Indian Standards (BIS). Failure to do so may result in severe penalties.

Massive Customs Fraud in Indian Stainless Steel Sector?

Such measures are often traced back to fraudsters. In June 2024, Indian authorities recently discovered a potential customs fraud involving fake BIS declarations and forged stainless steel import factory test certificates, the extent of which was unforeseeable at the time and is currently under investigation.

Suspicion: Thousands of Tons of Stainless Steel Affected

According to market reports, it is claimed that thousands of tons of flat-rolled stainless steel were fraudulently misreported and smuggled through Indian customs.

Summary

In the past, similar incidents have occurred in Europe and the United States. European customs authorities and the European Anti-Fraud Office (OLAF), as well as the U.S. Customs and Border Protection (CBP), are taking restrictive actions against such falsely declared imports. Therefore, whether you are an importer or not, think twice before supporting such actors, as you will inevitably find yourself in trouble.

Content sourced from Gerber's website, does not represent the views of 51BXG. 51BXG does not guarantee the accuracy of software translation and is for reference only. Copyright belongs to the original owner.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China