Flats: Vietnam’s import market for commercial-grade hot-rolled coil remained depressed in July due to low demand and market bearishness.

Longs: The Southeast Asian rebar import market weakened after a brief period of strength in early July. Price volatility in Chinese steel futures has affected buying from end-users. 

Semis: The ASEAN billet market continued to be dominated by Chinese resources in July, with intense competition forcing local steel mills in the region to cut prices to secure orders.

BF Raw Materials: The Kanto Tetsugen monthly scrap export tender settled higher in mid-July, but the increase does little to compensate for the yen’s weakness against the US dollar.

EAF Raw Materials: The seaborne iron ore market experienced heightened volatility in July, influenced by various news. Positive signals from the Chinese government initially aimed to boost financial markets, but failed to meet expectations, leading to prices hitting their lowest level in over a year by the end of the month.

Country Trade Data:

• Singapore
• Thailand
• Philippines
• Malaysia
• Indonesia
• Vietnam

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