In early May, the international steel market experienced a full-scale correction. Although the trade war provoked by the United States has shown signs of abating, the steel market, including the United States, has also seen a trend of over-regulation. To this end, combined with the fundamental situation forecast, the international steel market in the second half of May may continue to adjust its trend.

The application of tariffs by the United States did not affect the export of steel and aluminum products in China. According to data released by the General Administration of Customs of China, China’s exports of steel and aluminum all increased significantly in April this year.

Asian steel market: horizontal consolidation. The benchmark steel price index for steel homes at 130.3 points in the region fell by 0.7% (down from a rise) on a week-to-week basis, which was a month-on-month increase of 2.3% (from rising to rising) and year-on-year increase of 23.4%.

In terms of flat products, market prices have risen and fell.

Long products: market prices have mixed.

Brief test: Based on the fundamental situation in the Asian market, the Asian steel market in May may continue to trend upwards and downwards.

European steel market: Continue to lower. The benchmark steel price index for steel homes of 106.7 in the region fell by 1.8% (downwards) on a week-to-week basis. It was down 4.2% month-on-month (increased) and 25.7% year-over-year.