NEWS

International Steel City Daily: Indonesia's billet decline to expand the supply of hot rolls is expected to increase (2024.3.12)

【Hot Tracking】

According to MySteel's latest information, the latest price of plate blank from a mainstream steel factory in Indonesia this week was  FOB$ 540/ton, a decrease of 30 US dollars/ton last week. At present, the local demand in Indonesia is very sluggish, and there are fewer transactions in the Southeast Asian region. Although Europe has no demand for Southeast Asian plate blanks significantly, European buyers' inquiry has decreased compared with previously. MySteel learned that due to the poor demand for plate, the price of Italian board has continued to soften in the near future. At present, the local market price of the middle and thick boards is about $ 808/ton EXW. /Ton. Therefore, European buyers are more cautious and wait and see low -cost resources.

Since the beginning of this week, the price of hot rolls in Southeast Asia has also weakened. It is stable at about $ 750/ton, but the demand for hot scrolls in Indonesia is also weak. The overall supply of hot rolls in Indonesia is greater than demand. According to MySteel's understanding, the subsequent Indonesian local hot roll production capacity is expected to increase significantly. There are currently three steel plants in Indonesia to enable the new production line of hot rolls this year. It is expected that Indonesia will increase a total of more than 5.5 million tons/year hot roll production capacity. Some market participants have said that after the Indonesian hot roll production capacity is improved, the local hot rolls will be increased. There is a certain amount of room for decline in the future.