Global Steel Prices Today: What’s Changing in The Market

Shougang Jingtang Sets New Record for Tinplate Thickness

The No.2 production line of Shougang Jingtang's Tinplate Business Division successfully rolled off a 0.7mm extra-thick tinplate coil. Key indicators such as surface quality and product performance meet control standards, marking the first industrial trial production of this ultra-thick specification tinplate product.​

Jincheng Iron and Steel Achieves Double High-Speed Wire Rod Technological Breakthrough

Jincheng Iron and Steel Holding Group's double high-speed wire rod production line successfully trial-rolled HRB500E small-size deformed steel bars (8mm and 10mm), securing a significant technological breakthrough.​

Global Stainless Steel Industry Faces Intensive Production Cuts

Pressured by high inventory and weak demand, numerous domestic and foreign stainless steel enterprises have successively announced production cuts or suspensions. In terms of market performance, the Foshan market operates steadily, while the Wuxi market sees a price drop of 50-100 RMB/ton.​

Profit Differentiation Among 34 Steel Enterprises

The latest profit ranking shows that multiple steel enterprises including Benxi Iron and Steel (loss of 2.2 billion RMB), Lingyuan Iron and Steel (loss of 800 million RMB), Jiuquan Iron and Steel (loss of 700 million RMB), Bayi Iron and Steel (loss of 500 million RMB), and Chongqing Iron and Steel (loss of 200 million RMB) reported losses. In contrast, key private steel enterprises performed brilliantly with a year-on-year profit growth of 400%.​

 

 

Red Sea Shipping Resumption Delayed; Freight Indices Stabilize

Braemar predicts that even if shipping companies start resuming Red Sea routes at the beginning of the year, full operational recovery may not be achieved until mid-2026. Regarding freight rates, the BDI Index stands at 2583, and the Europe Route Index remains in the range of 1500-1600.​

US Dollar Index Edges Down; Fed Rate Cut Expectations Rise:

The US Dollar Index, which measures the greenback against six major currencies, fell by 0.03% on the day. Bank of America has revised its forecast for the Federal Reserve's December interest rate meeting, joining other institutions in expecting a 25-basis-point cut in the policy rate.​

 

South Korea Launches Anti-Dumping Investigation on Chinese Galvanized Steel Coils

On November 28th, the Korea Trade Commission announced the official launch of an anti-dumping investigation into galvanized steel sheets and zinc-coated corrosion-resistant steel plates originating from China, in accordance with Article 60, Paragraph 3 of the Customs Tariff Act.

 

 

 

 

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