Blog

2024.04.17

Stable Export Slab Price in Brazil, 19th April 2024

Market Trend 2

The steel industry is a constantly evolving landscape, shaped by a multitude of factors that span across continents and industries. From the bustling markets of Asia to the industrial powerhouses of Europe, the dynamics of the steel market are in a constant state of flux. In this article, we delve deeper into the recent developments and trends in the global steel industry, shedding light on the stability of pricing, the forces that drive the market, and the delicate balance of supply and demand.

China 

Domestic prices for Hot Rolled Coils (HRC) in China surged to Yuan 3,780/t ($522/t), marking a significant increase of Yuan 80/t ($11/t) on April 13. This price hike was driven by the uptrend in SHFE HRC futures prices throughout the week. On the flip side, export prices for HRC saw a slight decrease of $5/t, settling at $535/t amidst reduced trading activities. It's worth noting that rebar prices experienced a remarkable upturn, reaching Yuan 3,650/t ($504/t) with a substantial increase of Yuan $130/t ($18/t) compared to the previous week.

bundle-steel-coils-being-loading-discharging-1196215732

Japan 

Export scrap prices in Japan remained relatively stable during this period, holding steady at JPY 50,800/t ($331/t) FOB on April 12 despite low demand from overseas markets. Similarly, domestic scrap prices also stayed consistent from the previous week, at JPY 47,800/t ($311/t), due to the impact of sluggish demand from the construction sector.

Market Trend 3

Europe

The Hot Rolled Coils (HRC) price in Northern Europe stood at EUR 651/t ($706/t) on April 10, showing a slight decline of EUR 9/t ($10/t) compared to the previous week. Conversely, in Southern Europe, the HRC price was at EUR 635/t ($688/t), experiencing a marginal decrease of EUR 2/t ($2/t) week-over-week amidst subdued trading activities. Buyers are speculating that these price levels may be approaching a bottoming-out phase.

America 

The HRC price in the US remained relatively stable at $830/MT on April 12. In contrast, export HRC from the US saw a significant increase of 43.4% in February compared to the previous month, totaling 90,126MT valued at $98.4 million.

Meanwhile, the export slab price in Brazil showed broad stability week over week, standing at $620/MT FOB at main ports. Additionally, the price of Brazilian high-grade iron ore (65% Fe) surged to $123/MT, marking a $7 increase from one week ago. Similarly, domestic scrap prices in Mexico saw a slight increase of $4/MT, reaching $389/MT.

Market Trend 7

Viet Nam

Imported Hot Rolled Coils (SAE1006) saw a week-over-week increase of $5 to $10 per ton, reaching $560 to $565 per ton CFR at the main port. In contrast, the domestic price of Hot Rolled Coils stood at $553 per ton for delivery in June and July. The market is experiencing weak demand for finished steel, with a slowdown in consumption affecting trading activities.

If you have any questions about the purchasing process, delivery timelines, or if you're interested in receiving a quote for our lance products, simply click on the link provided and complete the inquiry form. We are dedicated to delivering prompt responses and assisting you with any queries you may have.

Contact Us!


Recent Post「Steel Market Move」New Post


Stable Export Slab Price in Brazil, 19th April 2024

Join Our Mailing List

For more tips on improving your furnaces with effective use and cost-saving benefits, click here to subscribe to our blog!

Blog Subscription