The price of domestic HRC in China rose up compared with last week. A top EAF steelmaker in Japan announced on Mar 20th to increase the price for rebar and H-beam for deliveries in April 2023. In Viet Nam, the import HRC price was unchanged while the domestic rebar price is also kept stable as slow demand from construction.
Let us support and share with you in this blog for your business decision during this up-trend market around the world starting a motivation Y2023.
China
The price of domestic HRC in China at Yuan 4,270/t ($618/t) on Mar 11th, rose up to Yuan 40/t ($6/t) compared with last week. China's HRC export offer at $695/t FOB China port increased by $20/t from the previous week. Prices raised up due to strong domestic demand. Domestic rebar price at Yuan 4,240/t ($614/t), also increased by Yuan 10/t ($1/t) from one week earlier.
Japan
A top EAF steelmaker in Japan announced on Mar 20th to increase the price by JPY 3,000/t ($23/t) for rebar and H-beam for deliveries in April 2023. The new effective price for rebar is at JPY 103,000/t ($786/t) and for H-beam at JPY 127,000/t (970/t). However, the company has still kept its HRC prices unchanged at JPY 115,000/t ($857/t).
Europe
Domestic HRC in Europe rose by EUR 15/t in one week both in Northern and Southern regions, but the price in Germany was at EUR 840/ton Ex-work mill and higher than the price in Italy by EUR 25/t. Shortage of HRC domestic supply and long lead times with import HRC affected the price.
America
US domestic HRC price was at $1,254/MT ($1,140 per short ton) on Mar.15th, lightly increased $11/MT ($10 per short ton ) from the previous week. Demand for HRC is strong. The buyer trend to searching alternative import materials. Another hand, the domestic rebar price at $1,045/MT ($950 per short ton) keeps stable for 02 weeks.
Prices of steel plates import to main ports in South America were stable at $735/t CFR on Mar.13. Meanwhile, Brazilian export pig iron at $ 545/t FOB Brazil for the US market, increased $20/t compared to one-week earlier, due to strong demand.
Viet Nam
A top BF steel producer in Vietnam has decided to raise the HRC price by $33/t on May 15th and offered the new price at $737/t CIF HCM for April/May delivery. However, the import HRC price was unchanged at $700/t while domestic rebar price is also kept stable at $671/t as slow demand from construction.
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