Since July, export quotes for China’s hot-rolled, cold-rolled, and galvanized coil have fluctuated within a narrow range overall, dipping slightly compared to the end of June. As of mid-July, mainstream hot-rolled coil FOB quotes ranged from $530 to $545 per metric ton, while cold-rolled and galvanized coil followed suit with declines of $5 to $8 per metric ton, primarily due to weaker iron ore prices on the cost side.
On the demand side, inquiries were relatively light in the first half of the month due to the summer holidays in Europe and the rainy season in Southeast Asia, though essential demand remained steady in regions such as the Middle East and Latin America. By the latter half of the month, inquiries from overseas buyers had rebounded, and the market generally expects orders to pick up in August.
Regarding exchange rates, the RMB has remained within the 7.25–7.30 range against the U.S. dollar; moderate depreciation is favorable for export settlements, and domestic tax rebate policies have also remained stable.
Looking ahead, current prices are at a short-term low. As the domestic steel mill maintenance season begins, supply pressure is expected to ease in August, limiting the potential for further significant price declines.
The international trade team at Henan Baowu Steel recommends:
For overseas partners with long-term procurement needs, the period from now through early August represents an ideal window for price negotiations and inquiries. We offer high-quality hot-rolled coils and galvanized products, including SAE1006, SAE1008, and various Japanese and European standards. Please feel free to contact us for real-time quotes and shipping schedules.
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