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Global steel demand weak, low-price steel prevails

Like in many markets globally at the moment, steel demand in China has not been as strong as generally expected, with the result that prices are weakening. Over September 28-October 12, Mysteel’s SS400 4.75mm hot-rolled coil was traded at $463/t FOB Bayuquan port in Northeast China’s Liaoning province, down $5/t from September 21-27, as Mysteel Global reported.
“Some mills slashed their FOB prices for HRC to $450/t after the National Day holiday (over October 1-7), but still no buyers have shown interest,” a Shanghai-based senior market watcher admitted. “After all, hot coils are available in the international market from Qatar priced at $450/t CFR Southeast Asia, which

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