Steel exports a week review: domestic steel prices rose slightly export turnover limited

According to the data of the General Administration of Customs on July 15, 2021, China exported 6.458 million tons of steel in June 2021, up 74.5% year on year; From January to June, China exported 37.382 million tons of steel, up 30.2% year on year.

China imported 1.252 million tons of steel in June, down 33.4 percent year on year. From January to June, China imported 7.349 million tons of steel, up 0.1% year on year.
This week, the mainstream price of hot coil market in China domestic trade increased by 10-15 yuan/ton to 915-925 US dollars/ton. Tianjin port hot rolled coil export mainstream transaction price $923 / ton FOB. Overseas demand is weak, especially in Southeast Asia, but inquiries have risen as prices from large Chinese steel mills have gone up.

This week, on the one hand, the domestic production cut is expected, on the other hand, after June exports rose 22.5% month on month, up 74.5% year on year, the market is more worried about the policy of raising export tariffs in the future, so the steel mill export offer is not too positive. At present, the development of the epidemic in Vietnam and Indonesia is still serious, including the closure of several major cities is still not relaxed, resulting in a decline in local demand. If production restrictions are put in place, Chinese mills will be more inclined to sell their materials to the domestic market.