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Steel Materials Price In March

Keeping abreast of changes in steel prices is a good thing for consumers. Especially, if you have a plan to order steel materials. In March, the steel material price was changed. Specific information is as follows. Any questions, please contact us.

Hot Rolled Coil Price

Chinese market: This week, the price of the hot-rolled coil in the East China market rose sharply, ranging from 40 to 90 RMB/ton. The national average price of 3.0mm hot rolled coil is 3932 RMB/ton, down 1 RMB/ton from the previous trading day. The national average price of 4.75mm hot rolled coil is 3865 RMB/ton, the same as the previous trading day. Recently, hot rolled coil market demand has been good.

Chinese Steel FOB Price (Unit: USD/ton)
Item Port Price on March 22
Hot rolled steel(SS400) Tianjin Port 525
Cold rolled steel(SPCC) Tianjin Port 620
Hot dip galvanized steel Tianjin Port 671
Rebar (B500B) Zhangjiagang 529
H-beam (SS4000) Tianjin Port 554

Southeast Asia: According to local traders, after the price rebound, market expectations improved and trading volume increased. On March 20, the Q235 (3mm) hot rolled coil price was $535/ton CFR Vietnam, and the Q355 was raised by $18/ton on this price basis. SAE1006 (2mm) prices around $570/ton CFR Vietnam. SAE1006 Due to lack of demand, SAE1006 coils’ transaction is still poor. Moreover, the tradable price is expected to be reduced by about $20/ton. Asian thick plate, also due to poor demand, prices show a downward trend. Among them, China’s export price of $560/ton FOB has a competitive advantage. At present, the price of SS400 (12-20mm) is $560/ton FOB China, and the export price of a medium plate of the same specification is $565/ton CFR South Korea.

India: The current price of hot rolled coils in Europe is Rs 52,500-53,000/ton (US $631/ton – US $637/ton), down by Rs 500/ton (US $6/ton). The export price of the hot rolled coil at India’s main ports is $565- $575/ton, down $15- $20/ton from last week. The reason is not only the active price reduction of steel mills but also the increase in freight costs, which increased from $60/ton to $70/ton in a week. At the same time, the import price of the hot rolled coil has also been reduced, and the current price is $545-555/ton, down $10-15/ton from last week. With India’s general election, market liquidity will likely slow, weakening demand even into April and May.

International Hot Rolled Sheet Price (Unit: USD/ton)
Market Price Price changes
American Midwest Steel Factory price 900 0
American Import (CFR) 830 0
EU steel factory price 750 -10
European Union Imports (CFR) 650 -25
Japan Export (FOB) 540 -30
Turkey Exports (FOB) 665 -5
China Export (FOB) 525 0
India Export (FOB) 570 -17
Southeast Asia Import (CFR) 523 -2

Rebar Price

Vietnam: After rebar price fell by 200 VND/kg (about $8/ton) last week. Mainstream steel mills in Vietnam announced at the beginning of this week that the price of wire rods continued to fall by 200 VND/kg. After the price adjustment, the current market circulation price of the mainstream specifications of rebar is $570-588/ton. The market circulation price of the mainstream specifications of the wire is about $566-572/ton (excluding tax).

International Market Rebar Price (Unit: USD/ton)
Market Price Price changes
American Midwest Steel Factory price 895 -5
American Import (CFR) 850 0
EU steel factory price 695 0
European Union Imports (CFR) 660 -5
Turkey Exports (FOB) 587 0
China Export (FOB) 529 -13
Southeast Asia Import (CFR) 539 +2

Turkey: In the week ending March 22, Turkey’s export rebar quotes between $590- $615/ton FOB, trading prices are slightly lower, at the level of $580- $600/ton FOB, but mostly difficult to reach this level. Back in Turkey, the government raised interest rates and restricted the money supply to curb inflation, making it difficult for local buyers to buy materials or replenish inventories. Even as Turkey’s steel mills try to make up for the absence of export markets through domestic sales, the country’s unfavorable economic conditions have led to continued weakness in the domestic trade of finished materials. If the Turkish lira depreciates sharply against the dollar, Stockholders and traders are prompted to buy rebar. Then Turkey’s domestic rebar demand may improve ahead of local elections scheduled for March 31. At present, the domestic rebar quotation is 705-745 US dollars/ton EXW (including 20% value-added tax), which has narrowed week on week.

International Steel Price Index

International Steel Price Index

Chinese Steel Price Index

Chinese Steel Price Index

The United Arab Emirates: Since the end of January, the United Arab Emirates Steel Company’s domestic rebar ex-factory price remains unchanged at $745/ton EXW, the latest trading price is about $700/ton EXW, and the mill quotes 630-650EXW, down $10/ton from a week ago.

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