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Flat steel prices in Asia rose in November

In November, the Asian flat steel market recovered. China's domestic composite price level in November was $587.69, up $9.94 from last month and 4.3% on month. Among them, the price of steel plate increased by 15.62 US dollars to 574.92 US dollars, up 2.8%.

However, there is still a lot of pressure on the Asian steel export market. Veysel Yayan, Secretary General of the Turkish Association of Steel Producers, said at an industry event held in Istanbul in mid November that Turkish steel consumption in 2019 continues to lag significantly behind that in 2018. The association predicts that by the end of the year, Turkey's steel consumption will slow down by less than 20% year-on-year due to the moderate economic recovery in the second half of 2019. Accordingly, Turkish steel exports, most of which go to Europe, climbed from 12.1 million tons last year to 13.4 million tons in the first nine months. However, this growth was mainly due to the increase in steel exports from January to June. After June, due to the restrictions of trade protectionism measures, Turkey's steel exports slowed down. Tan ah Yong, secretary-general of the Southeast Asia Iron and Steel Association, said the surge in investment by Chinese steel companies in Southeast Asia would bring more than 50 million tons of annual crude steel production capacity to the region. On the whole, the resource pressure in the Asian steel market is still large. Looking forward to the future, it is expected that the steel market in Asia will run smoothly in December.