1. The economic and trade talks between China and the United States in Geneva have reached multiple positive consensuses, agreeing to significantly reduce bilateral tariff levels. Starting from 12:01 pm on May 14, 2025, the implementation of the "Announcement of the State Council Tariff Commission on Adjusting the Additional Tariff Measures on Imported Goods Originating in the United States" will be suspended.
2. The People's Bank of China and the Central Bank of Brazil signed a memorandum of understanding on financial strategic cooperation and renewed the bilateral local currency swap agreement.
steel billet
Today, the overall steel billet market is showing a strong operating trend. The ex factory prices of some resources in Tangshan area have been raised by 5 US dollars per ton, and implemented at 415 US dollars per ton. In the afternoon, prices continued to rise and fluctuate, with warehouse spot prices further rising to $425 per ton.
The price of hot coils in Shanghai has increased by $5/ton, with a 4.75mm wall thickness hot coil priced at $463/ton. The price of hot coils in Tangshan has increased by $4/ton compared to yesterday, and the mainstream market price is $452/ton. Hot coil futures have fluctuated and strengthened, driving market sentiment and leading to a positive increase in spot prices.
Today, the price of welded pipes has increased. The ex factory price of welded pipes in factories in Tianjin is $495/ton, and the ex factory price of steel pipes in Tangshan is $472/ton. Raw material prices continued to rise in the afternoon.
Tomorrow's price forecast: It is expected that market prices will continue to rise tomorrow.
