It is reported that exports of Chinese hot dipped galvanized steel exports are getting difficult due to softening prices and anti dumping investigations. Export tonnages for August or September shipment probably would see small decrease.
 
 According to MySteel, domestic market prices are still on the decrease. On Shanghai market, 1.0mm HDG by Anshan steel is being quoted at CNY 7460 per tonne to CNY 7480 per tonne that for 0.5mm HDG by private steel makers is at CNY 7680 per tonne down by CNY 100 per tonne and CNY 70 per tonne respectively from last Thursday. The downward adjustment is expected to go on in July unless it could exceed CNY 7600 per tonne.
 
 Export quotation for 1.0mm HDG Z120 by tier two steel mills is at USD 1150 per tonne to USD 1170 per tonne with transaction price at USD 1145 per tonne to USD 1155 per tonne FOB.
 

MySteel reported that billet price in both domestic and export market have improved this week. Export transactions are quite good and tonnages for July shipments are predicted to see sharp increase.
 
 On Tangshan market, price for Q235 150mm billet has rebounded to CNY 5380 per tonne and 20MnSi grade material is being quoted at CNY 5530 per tonne. Prices are believed to be in a dull period and there is expected to be another round of increase later.
 
 Export offers for Q235 150mm x 150mm billet are prevailing at USD 1120 per tonne to USD 1130 per tonne FOB and some steel mills have been fully booked for their allocation for end July or August shipment. Normally, there is an extra of USD 10 per tonne for 120mm x 120mm and another USD 10 per tonne to USD 15 per tonne for 20MnSi quality.
 

It is reported that scrap transaction and purchase prices have showed notably declines lately in South China’s Guangdong province, with price decrement of over CNY 100 per tonne. Latest price goes at CNY 3900 per tonne to CNY 4000 per tonne for heavy scrap and CNY 3750 per tonne to CNY 3850 per tonne for medium scrap.
 
 According to Mysteel, the current price decline to the weakening construction steel price resulted from thin transactions. Meanwhile, the higher electricity price also drove up input cost and reduced profit margins for steel mills using smaller electric furnace. As a result, these mills have to cut output or suspend productions, leading to shrinking demand and thus, weighing on market price downward in turn.
 
 As per report, the 79.88% to 96.5% benchmark ore price rise settled last night and the high coke price would help underpin pig iron market. And Mysteel believes the chance is slim for local scrap price to slump given its wide gap with pig iron price.
 
 (Sourced from MySteel.net)

The News reported that the new budget, instead of resolving outstanding issues faced by the trade and industry, has created confusion and fear of losing the domestic market to importers in Pakistan.
 
 Steel product producers have expressed dismay over the continued duty protection provided to the Pakistan Steel Mills. They said that the mill currently meets only 25% steel requirements of Pakistan and is operating at full production capacity. The prices of its products should be on a par with rates prevailing in the international market.
 
 They said that the mill incorporates the impact of duty protection and import cost while evaluating its product prices, adding the engineering industry should not be held hostage to inefficiencies of the Pakistan Steel Mills.
 
 The industrialists and importers also regret the 35% letter of credit margin imposed by the central bank in haste. The condition has now been withdrawn for industrial raw materials and parts after more than a month. They say the central bank should have done proper evaluation before imposing this condition.
 
 (Sourced from The News)