Export HRC prices FOB at China port fell in China compared to the previous week. On May 3, domestic HRC prices in Northwest Europe remain constant throughout the week. Due to the present downturn in worldwide demand, the buyer in Japan anticipates a price decrease soon.
Let us support and share with you in this blog for your business decision during this up-trend market around the world in May 2023.
China
Export HRC prices at $580/t FOB China port, decreased by $35/t compared to an earlier week. Domestic HRC prices in China also downward by Yuan 150/t ($22/t) to Yuan 3,720/t ($538/t) on May 06th. Demand slows down in domestic as well as overseas. Domestic billet prices also decreased by Yuan 20/t ($3/t) to Yuan 3,470/t ($502/t) in one week.
Japan
Even though weak demand, Japanese export scrap prices (H2 grade) still keep stable at Yen 47,500/t ($355/t) in one week, on May.05th. Domestic scrap prices at Yen 49,500/t ($369/t), are also unchanged from last week. The buyer estimates the price will drop in the near future in the current global demand decline.
Europe
Domestic HRC prices keep stable during the week at EUR 820/t ($900/t) in Northwest Europe on May 03rd. Meanwhile HRC prices at EUR 800/t in Italy, downward EUR 10/t. Even though import HRC at a competitive price (EUR 670/t - EUR 690/t CFR main port) but domestic HRC prices still keep stable level price.
America
Price of US domestic HRC at $1,251/MT ($1,137 per short ton) on May 05th, down by $28/MT compared with one week ago. Generally, demand is still strong. Meanwhile, domestic rebar prices still keep stable at $ 1,062/MT ($ 965 per short ton) unchanged for three consecutive weeks.
HRC price in South America at $640/t CFR main ports on May 05th reduced by $25/t compared to one week earlier. Meanwhile, Steel slab export prices in Brazil at $805/t FOB main ports, decreased by $30/t compared to last week. Market demand starts to downward.
Viet Nam
Import HRC prices in Vietnam was at $605/t CFR on May 03rd, unchange during Labor holiday. Domestic rebar prices at $633/t, unchanged compared last week. As the same with global trend, domestic demand dropped sharply, causing manufactures offerred lower prices recently to speed up clearing inventory level.
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