In Japan, domestic scrap prices unchanged from last week. In China, the domestic HRC prices in China increased on May 20th. 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 $550/t FOB China port, decreased by $30/t compared previous week, due to the weakening between CNY/USD exchange rate and limited transactions. Meanwhile, domestic HRC prices in China increased from Yuan 30/t ($4/t) to Yuan 3,720/t ($531/t) on May 20th. Billet prices rose up Yuan 20/t ($3/t) to Yuan 3,420/t ($488/t).Japan
Japanese export scrap prices (H2 grade) at Yen 46,500/t ($344/t), rose up Yen 500/t ($5/t) compared one week earlier, on May.19th. Meanwhile, Domestic scrap prices at Yen 47,000/t ($347/t), unchanged from last week. Domestic demand in Japan is currently weak.
Europe
Domestic HRC prices at EUR 770/t ($832/t) in Northwest Europe, unchanged on May 18th. HRC prices in Italy also keep stable during the week at EUR 750/t. Meanwhile import HRC from ASIA at EUR 620/t ($ 670/t) to EUR 650/t ($702/t) CIF main ports, keep a big gap with domestic HRC price.
America
Price of US domestic HRC at $1,169/MT ($1,063 per short ton) on May 17th, down by $41/MT compared with the previous week. Demand gradually wanes, and buyers are waiting for a new lower price level. Meanwhile, steel plate prices at $1,716/t ($1,560 per short ton), keep stable since April 25th.
Domestic rebar prices at $885/t in Brazil on May.12th, rose up $8/t with the previous month. Meanwhile, aluminum premium prices at $280/t, increased by $15/t during the week even though demand from automotive, canning, and consumer goods is slow.
Viet Nam
Export billet prices at $490/t FOB in Viet Nam, keep stable on the week. Meanwhile, Domestic rebar prices at $630/t, decreased by $3/t compared to last week. Almost our customers are faced with slow business, production was decreased by 50% capacity, operate one shift at night from 8 pm to 7 am only.
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