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2025.01.09

China Rebar Prices Hold Steady, 09th January 2025

Market Trend 01

The global steel market is presenting a complex picture this week. While some regions experience slight price increases, a concerning trend of softening demand and declining prices is taking hold in others. This update will delve into the details, exploring price movements and potential implications across key steel-producing and consuming regions.

Japan 

Export scrap prices in Japan decreased during the week, reaching JPY 42,100/t ($268/t) FOB Tokyo Bay on January 3, a drop of JPY 1,300/t ($8/t) compared to the previous week. The price is under pressure from competitors, a weakening global market, and a seasonal slowdown in activity. Meanwhile, average domestic scrap prices in three regions remained steady at JPY 37,900/t ($240/t), consistent with the previous week.

shipping 6-1

China 

Domestic HRC prices in China fell by Yuan 30/t ($4/t) compared to the previous week, settling at Yuan 3,370/t ($461/t) on January 4, driven by a drop in SHFE HRC futures prices and weak domestic demand. Similarly, export HRC prices declined by $5/t to $475/t, indicating a softer market outlook. The price of domestic rebar remained largely unchanged, with a slight decrease of Yuan 10/t ($1/t) during the week, at Yuan 3,310/t ($452/t), as construction demand in China has yet to recover.

shipping 8

Vietnam

In Vietnam, a major steel mill has decided to lower their HRC price (SAE1006, non-skinpassed) by $5/t for March/April 2025 delivery. The revised price is now $519/t, reflecting the decrease in domestic demand and the price of imported HRC from China. The market for finished steel remains weak, and there is also a low level of demand in the domestic flat steel market.

Europe 

In Northern Europe, HRC prices remained steady at EUR 565/t ($588/t) on January 2, consistent with pre-holiday levels. Likewise, in Southern Europe, HRC prices held firm at EUR 563/t ($586/t) during this period. Trading activity was slow due to the year-end holiday, and the market for imported HRC was similarly subdued.

to make the picture for logistic and cargo at the port

America

In early 2025, HRC prices in the US showed an upward movement, rising by $9/t from the close of the previous year to reach $718/t on January 6. Meanwhile, US scrap prices faced sluggish demand and stayed stable over the week.

During the first week of 2025, Mexico's domestic scrap prices held steady at $306/t. In contrast, Brazil's export HRC price dropped to $800/t, marking a $20/t decline from two weeks prior. Export slab prices also decreased by $5/t over the week, settling at $530/t. Furthermore, the cost of high-grade iron ore (65% Fe) fell by $4/t to $111/t.

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China Rebar Prices Hold Steady, 09th January 2025

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