Despite the approaching Spring Festival holiday, the export price of Chinese hot rolls continues to rise, with the price of SS400 hot rolls around $630 / ton FOB. At present, most steel mills in China have stopped quoting prices, the market supply of goods is reduced, and the appreciation of the yuan, export prices continue to rise.

 Vietnam is also heading into the holiday season, and market activity is quiet. Both domestic and overseas market participants believe that hot coil prices in Asia will continue to rise after the Chinese New Year due to exchange rate fluctuations and demand for construction steel. Mysteel is expected to increase by $10 to $20 / ton compared to pre-holiday.