Steel Quotes International
U.S. President Trump stated that additional tariffs on automobiles, lumber, and chips will be announced in the coming days. He also mentioned possible tariff reductions for several countries.
Turkey is considering lowering the deposit tax on the lira to support its exchange rate.
China Steel Quotes Domestic
China’s Ministry of Finance released the 2024 Fiscal Policy Implementation Report, outlining five key measures for 2025:
Increasing the fiscal deficit ratio and boosting spending.
Issuing larger-scale government bonds to support growth and structural adjustments.
Optimizing expenditure structure for targeted benefits in consumption and social welfare.
Strengthening risk prevention in key sectors.
Expanding fiscal transfers to local governments to ensure stability.
The report also emphasized policies to stimulate domestic demand, including:
Consumer subsidies for trade-ins and pension increases.
Infrastructure upgrades to reduce logistics costs.
Accelerating government bond issuance for faster project implementation.
Fiscal data for January-February 2025:
National fiscal revenue fell 1.6% YoY to ¥4.3856 trillion.
Tax revenue dropped 3.9%, while non-tax revenue rose 11%.
Stamp duty surged 16.9%, with securities stamp duty up 58.9%.
The Ministry of Finance also highlighted green development policies, including:
Expanding carbon trading and ecological compensation mechanisms.
Supporting renewable energy and EV adoption.
The National Development and Reform Commission (NDRC) and Ministry of Transport issued an inland waterway connectivity plan to improve logistics efficiency.
The PBOC announced a ¥450 billion 1-year MLF injection to maintain liquidity.
February air quality improved:
PM2.5 levels dropped 16.4% YoY.
Good-air days reached 90.1%, up 8.3 percentage points.
Stainless steel trade data (February 2025):
Imports fell 28.1% YoY, with shipments from Indonesia down 33%.
Exports rose 6.6%, driving a net export increase of 220.9%.
Steel Industry Updates
Domestic Steel News
Anyang Iron & Steel developed AG750DK high-strength hot-rolled coil for EV battery frames, marking progress in specialty steel.
International Steel News
Vietnam’s Hoa Phat Steel secured an exemption from EU anti-dumping duties on hot-rolled coil due to competitive pricing and modern production methods.
Market Highlights
Rebar: Prices rose (avg. ¥3,396/ton), supported by inventory drawdowns and higher demand.
Hot-rolled coil: Gained ¥18/ton (avg. ¥3,406/ton) on futures-led optimism.
Cold-rolled coil: Edged up ¥6/ton (avg. ¥4,265/ton) amid cautious trading.
Silicon steel: Held steady (non-oriented ¥5,150/ton; oriented ¥13,000/ton).
Seamless pipes: Fell ¥16/ton due to weak demand.
Stainless steel: Declined ¥50/ton (304 cold-rolled at ¥13,500/ton).
Raw Materials
Iron ore: Prices rose (62% Fe at $110/ton) on restocking demand.
Coke: Stabilized (Shanxi coke at ¥1,150–1,250/ton) as steel mills cautiously replenished.
Billet: Gained ¥20–40/ton (Tangshan at ¥3,070–3,080/ton) on supply concerns.
Scrap: Strengthened (East China at ¥2,040–2,130/ton) but faced resistance from low mill margins.
Outlook
Steel prices: Expected to remain firm on seasonal demand recovery.
Raw materials: Iron ore may consolidate, while scrap could see limited gains.
