In China, production volume increased while the actual demand was kept limited, causing the price to decrease during the week. In the US, the supply restriction makes the price at higher level. In Viet Nam, even though weak demand, domestic steel price was increased.
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
Domestic HRC prices in China at Yuan 4,160/t ($605/t) on Mar.27th, downward Yuan 110/t ($16/t) compared one-week earlier. Production volume increased while the actual demand was kept limited, causing the price to decrease during the week. On the other hand, domestic billet prices keep stable this week at Yuan 3,860/t ($561/t).
Japan
The appreciation of the yen reduces competitiveness in the market, therefore export scrap prices were down Yen 3,000/ton ( $23/ton) with the previous week, at Yen 53,000/ton ( $402/ton). Domestic scrap prices (H2 grade) at Yen 53,500/ton ( $406/ton) on Mar.23, also decreased by Yen 2,500/ton ( $19/ton) compared to one week earlier.
Europe
Domestic HRC prices in Northwest Europe at EUR 850/t on Mar.24, decreased EUR 5/t from the previous week. Meanwhile HRC prices in South Europe are at EUR 830/t, unchanged from one week earlier. More imported supplies, such as North Africa, and Asia make HRC prices in European countries more stable.
America
US domestic HRC price was at $1,300/MT ($1,182 per short ton) on Mar.22nd, continues to increase $46/MT ($42 per short ton ) compared with one week earlier. The supply restriction makes the price at higher level. HRC price also push Steel coil Galvalume price at $1,276/MT ($1,160 per short ton), increased fourth consecutive month.
Import HRC prices at $730/t CFR main ports South America on Mar.17, increased $10/t with previous week due to upward on ocean freight rates. Other hand, slow demand and strong competitive at dosmestic market in Brazil lead to aluminium premium price at $275/ton, downward $30/ton with 02 weeks earlier.
Viet Nam
Even though weak demand, domestic steel price was increased. Rebar prices at $677/t, rose up $6/t compared last week. The Ministry of Industry and Trade announced to prolong of the application of anti-dumping for imported coil and wire steel products, the applicable tax rate is 6.3% from March.22nd
![[Market Move] Hot Roll Coil](https://www.daiwalance.com.vn/hs-fs/hubfs/images/blog/%5BVN%5D%20Blog%20image/%5BMarket%20Move%5D%20Hot%20Roll%20Coil.jpeg?width=731&height=240&name=%5BMarket%20Move%5D%20Hot%20Roll%20Coil.jpeg)
If you have any questions about the purchase method, delivery date, or request for a quotation of lance products, please click the link below to complete the inquiry form so that we can respond to you promptly.
