China’s steel exports for the January-June period increased 31.3% year-on-year to 43.583 million tons, the highest level in the first half of the year in six years. The annualized rate is just under 90 million tons, close to the 100 million-plus tons in 2016. Crude steel production remained at a high level while demand was weak, especially for real estate, and in particular, surplus steel sheets headed overseas. Crude steel is expected to be adjusted down in the second half of the year, but demand is likely to remain high, with steel exports likely to remain high after the summer non-demand season.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)