Japanese scrap export prices FOB on December 23rd are higher than the previous week. Domestic HRC prices in Northern Europe and Southern Europe both rise from the previous week. While domestic rebar in the United States remains constant, unchanged from the previous week. Slow activity during the Christmas and New Year holidays. Buyers anticipate a healthy market in the first quarter of 2023.
Let us support and share with you in this blog for your business decision during this up-trend market around the world closing 2022.
China
The price of domestic HRC in China at Yuan 4,040/t ($578/t) on DEC 24th decreased by Yuan 50/t ($8/t) from last week's level due to high inventory and the current covid situation ( higher Covid infection cases). China's HRC export offer at $600/t FOB China port, increased by $10/t from the previous week.
Japan
Japanese scrap export prices at JPY 50,000/t ($377/t) FOB on DEC 23th, an increase of JPY 1,000/t ($17/t) from the previous week. Domestic scrap at JPY 49,000/t ($360/t), unchanged from last week. Meanwhile, Japanese Steel Major offered HRC export at $600/t FOB, delivery in FEB 2023, raise up $75/t compared with JAN dispatches.
Europe
Domestic prices for HRC in Northern Europe e at EUR 650/t Ex-work mills on Dec 22nd, increase EUR 20/t. Price for HRC in Southern Europe at EUR 650/t Ex-works mills in Italy, increase EUR 20/t with previous week. The market was quite slow due to the long holiday coming.
America
HRC price at $759/t ( $690 per short ton) on DEC.16th, a decrease of $33/MT ($30 per short ton ) from the previous week. While US domestic rebar keeps stable, at $1,034/t ($940 per short ton), unchanged from last week. Slow activity in the period due to Xmas and New Year holidays. Buyers believe the market will be strong in the first quarter next year 2023.
Mexican HRC keep stable at Peso 14,100/t ($733/t) on DEC.19th. Meanwhile, Brazil's government consider duty against Chinese HRC by JAN 2023, therefore buyers avoid importing HRC from China and South Korea has a chance to share this market.
Viet Nam
Vietnamese Imported HRC price at $615/t, an increase of $25/t from the previous week. Meanwhile, domestic HRC in VietNam keeps stable at $610/t from last week. Domestic HRC price in Viet Nam is steel more competitive than the Import price. Construction steel production in November reached 682,000 tons, down 5.28% from the previous month and down 37.2% compared to November 2021.
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