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Steel Materials Price Update

Last week, overseas steel material prices generally stabilized and weakened, and the new signing of the international steel trade declined weekly. Chinese hot rolled coil export prices stabilized. Affected by the Spring Festival, the Vietnamese market stagnated, and the domestic trade and import markets showed a state of no market. Overall, the recent market trading light, demand gradually weakened, approaching the Spring Festival, steel prices or continue to weak trend.

Hot Rolled Coil Price

International HRC Price (Unit: USD/ton)
Market December 25th
American Midwest Steel Factory price 1200
American Import (CFR) 950
EU steel factory price 820
European Union Imports (CFR) 735
Japan Export (FOB) 640
Turkey Exports (FOB) 675
China Export (FOB) 565
India Export (FOB) 625
Southeast Asia Import (CFR) 560

China

Due to the approaching of the Chinese Spring Festival holiday, the steel export inquiries from overseas countries are stagnant this week, and the general volume export price is temporarily stable, the mainstream price is 580 US dollars/ton FOB, according to the actual situation of the order, there is certain room for negotiation, some steel mills began to receive export orders for April shipping. The Spring Festival is also a legal holiday in Vietnam, near the holiday, market transactions are stagnant, and at present, both domestic trade and import markets are in a state of no market. In addition, this week, Vietnam’s large leading steel mills reduced the SAE1006/SS400 hot-rolled steel coil for local delivery in April-May to $610/ton CIF. The exchange price of Vietnamese merchants for Chinese HR Coil is generally lower than $565/ton CFR.

Southeast Asia

In the middle of this week, affected by the downward trend of futures, Asian hot rolled steel coils show a downward trend, ss400 hot rolls 560 US dollars/ton FOB China, down 5 US dollars/ton compared to the previous day, the same specification hot rolled coil price is 565 US dollars/ton CFR Southeast Asia, down about 5 US dollars/ton compared to the previous day, although there are still some buying this week, due to the holiday shutdown, So there aren’t many deals. Compared with the same specification of hot coil, Q235 quotation competitiveness is weaker than ss400, China’s mainstream steel Q235 quotation in $575/ton CFR Southeast Asia.
Vietnam is currently on the Spring Festival holiday before, the Vietnam public holiday on February 6, the current market although there are offers, almost no transactions, according to market traders, like the Chinese market, some Vietnamese traders have also started the holiday ahead of time, before the holiday is more difficult to prepare goods, so most buyers in a wait-and-see attitude, Vietnam import market prices, The mainstream market Q235B quoted at $575-580/ton CFR Vietnam, down about $5/ton week on week, and the transmissible price is estimated at $562/ton. Due to this week and the drop of the SAE1006/SS400 hot rolled coil offer of $25/ton in April to May, so that the SAE replaceable material Q195 Chinese export price is reduced, the current Q195 hot rolled coil is lower than the Q235/Q235B price of about $5-10/ton.

India

This week, the Indian hot rolled coil export offer is stable, according to the purchase size of the tonnage is different, the offer is maintained at 600-670 US dollars/ton FOB (March to April shipping), the recent transaction of a batch of 30,000 tons of Vietnam hot rolled coil price is 615 US dollars/ton CFR, the European export offer is 720-730 US dollars/ton CFR, the week on week no change. Due to the large number of exports in the first three months, the export activity of the Indian market has weakened recently, and the import volume has gradually decreased. This week, the Steel Authority of India raised the price of hot and cold rolled coils in February by $6/ton to ease the upward pressure on raw materials. In terms of exports, India quotes US $635-640/ton CFR Middle East, and India quotes US $720-725/ton CFR Europe.

 

 

 

 

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