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Hot Rolled Steel Coil Price

Hot Rolled Coil Price

Hot Rolled Coil prices in major international markets  (Unit: USD/ton)  October 27, 2023
American Midwest Steel Factory price 800
American Import (CFR) 730
EU steel factory price 638
European Union Imports (CFR) 615
Japan Export (FOB) 560
Turkey Exports (FOB) 640
China Export (FOB) 525
India Export (FOB) 620
Southeast Asia Import (CFR) 525

Chinese Export

In terms of hot coil, the export price of general coil this week fell first and then rose, at present, the mainstream export price of northern steel mills is 525-530 US dollars/ton FOB, and the shipping date is generally in December, and there are a small number of orders. In December, shipping hot coil export orders declined relative to October, but overall they were still at a high level. In addition, due to weak domestic demand, Vietnam has lowered the price of SAE1006 hot rolls for December delivery by 10-20 USD/ton to 560-570 USD/ton CIF Ho Chi Minh City. Although the delivery price has been reduced, the cost of purchasing Chinese cold rolled materials still has a price advantage for Vietnamese traders, and Japanese and Korean resources are above $570/ton CFR.

Southeast Asia

Hot rolled coil prices in Asia fell this week due to poor demand. In terms of the import market, the quotation of SS400 (3mm) hot rolls imported from China is $520/ton FOB, the week-on-week drop is about $5/ton, and the price of hot rolls imported from other Southeast Asian markets is $500/ton FOB. Hot coil exports are relatively stable, it is reported that traders recently from a small factory in northern China to get the SS400 hot coil quote at 530 US dollars/ton CFR Vietnam, other Southeast Asian countries will be lower than 530 US dollars/ton CFR Vietnam, considering the freight will be lower.

Regarding Vietnam’s import market, Q195 (3mm) is priced at $520/ton CFR Ho Chi Minh. Due to the frequent rainy season in Vietnam, the demand is not very significant. Formosa Plastics did not make an offer yesterday, given the weak deal. Indonesia SAE1006 Hot roll resources (from Vietnam) Hot roll prices average at $630/ton CFR Jakarta, the market is relatively stable, with no change from the previous month. Japan SAE1006 hot rolled coil (December shipment) offer at $580/ton CFR Vietnam, compared with Formosa Plastics has a competitive advantage. But then, Formosa Ha Tinh this week cut the price of SAE1006 hot rolls by 10-20 US dollars/ton to 560-570 US dollars/ton CIF Ho Chi Minh, and its Q195 price is the same as the price of the same material in China, so local traders may be more inclined to purchase Formosa resources.


In the Indian market, during the Diwali Festival, local hot roll prices continue to show a declining trend, IS2062 (2.5-10 mm) excluding tax prices at $680/ton EXW Mumbai, compared to the previous day down about $10/ton, is expected to continue to fall next week. The current domestic market demand for hot rolls is poor, partly due to the advantages of imported hot rolls, China’s export to hot roll prices (BIS certified resources) in the 580 US dollars/ton CFR Mumbai, it is expected that the transaction price will still have room to fall.

The Middle East

In the past week, Turkey’s hot roll domestic and import and export prices have stabilized, and market transactions are relatively quiet. Due to the continued low demand for steel in Turkey, coupled with unstable production costs, the pricing pressure on steel mills is relatively large, and it is difficult to raise prices, and the domestic hot coil factory price is flat from the previous week, at $625-650/ton.

In terms of exports, because the demand for Turkey’s hot coil exports continues to be depressed, export prices are difficult to increase, the trading market in the past week has been relatively cold, and hot coil exporters offer no increase compared with last week’s, between $625-650/ton FOB, temporarily did not listen to transactions. In terms of imports, the prices of most countries are the same as last week, the price of hot rolls from China is 560 US dollars/ton CFR, the cost of South Korea is 595 US dollars/ton CFR, and the price of hot rolls imported from Turkey’s main ports is 550-580 US dollars/ton, which is the same as the previous week.

Due to the impact of geopolitical conflicts, the flat material market in the UAE and Saudi Arabia has only a small number of hot coil transactions. Uae imports hot rolls, from China hot roll resources are quoted at 580-600 US dollars/ton CFR, up 10-15 US dollars/ton from last week, buyers can accept the price of 570-580 US dollars/ton CFR. Japanese hot roll quotes are unchanged from last week at $595-600/ton CFR. The UAE hot roll price this week was $570- $590/ton CFR, slightly narrower than the previous week’s $570- $605/ton CFR. Regarding hot rolls imported from Saudi Arabia, China’s hot rolls are quoted at $620-630/ton CFR, down about $10/ton from the previous week. Saudi Arabian hot roll prices were $620-630/ton CFR, up $1/ton from $610-630/ton CFR the previous week.

In the Russian market, the hot coil export market maintained a weak trend. In the past week, the price of Russian hot rolls exported to Turkey was about 567-570 US dollars/ton CFR, which is consistent with the price of South Korean hot rolls exported to Turkey. Still, Turkish buyers said that South Korean hot rolled coil’s raw materials are more high-quality than Russian hot rolls, so the price of Russian hot rolls is not dominant. In addition, buyers can accept prices between $540-550/ton CFR.

In the same period, due to the continued weak demand for hot rolls in Turkey, the competition between Russian hot rolls suppliers and Asian suppliers became more intense, resulting in a decline in the price of Russian hot rolls. Coupled with export restrictions to the European Union and North Africa, local suppliers tend to focus on the domestic market, resulting in the continued downturn in the Russian hot-roll export market. The price of Russian export hot rolls this week is $545-565/ton FOB Black Sea, down about $25/ton from the previous week.



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