Mysteel understands that despite the approach of the Spring Festival holiday, Chinese hot roll export prices continue to rise, with SS400 hot roll prices around $630 / ton FOB. At present, most steel mills in China have stopped quoting prices, the market supply of goods is reduced, and the appreciation of the yuan, export prices continue to rise.
Vietnam is also heading into the holiday season, and market activity is quiet. Both domestic and overseas market participants believe that hot coil prices in Asia will continue to rise after the Chinese New Year due to exchange rate fluctuations and demand for construction steel. Mysteel expects an increase of $10 to $20 / ton compared to the pre-holiday level