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.
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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.
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).
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.
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.
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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- Steel Market Move
- HRC prices