The price of domestic HRC in China decreased from last week as the demand of the market after the CNY holidays is still slow. Japanese scrap export prices on Feb 03rd raised up from the previous week. Domestic prices for HRC in Northern Europe on Feb 01st, increase EUR compared to the previous week.
Let us support and share with you in this blog for your business decision during this up-trend market around the world starting the motivation year 2023.
China
The price of domestic HRC in China at Yuan 4,090/t ($603/t) on Feb 04th decreased by Yuan 10/t ($1/t) from last week as the demand of the market after the CNY holidays is still slow. Meanwhile, China's HRC export offer at $655/t FOB China port, increased by $10/t from the previous week. Domestic rebar at Yuan 4,130/t ($610/t), drop by Yuan 30/t ($4/t) compared to one week ago.
Japan
Japanese scrap export prices at JPY 52,500/t ($409/t) FOB on Feb 03rd, raise up JPY 1,000/t ($13/ton) from the previous week. South Korea is the largest importer, followed is Viet Nam and Taiwan. Based on scrap export price, Steel Major in Japan will adjust domestic scrap prices accordingly.
Europe
Domestic prices for HRC in Northern Europe at EUR 730/t Ex-work mills on Feb 01st, increase EUR 10/t from the previous week. Price for HRC in Southern Europe at EUR 740/t Ex-works mills in Italy, decrease EUR 5/t with previous week. Meanwhile Import HRC at EUR 735/ton CIF Antwerp.
America
HRC price at $872/MT ( $792 per short ton) on Feb.02nd, an increase of $13/MT ($12 per short ton ) from the previous week. Meanwhile, the Import HRC price at $847/t ($770 per short ton) (DDP Houston), raise $44/t ($40 per short on) compared with one week earlier but the market demand still keeps quiet.
Mexico's domestic HRC price at Peso 15,750/MT ($838/MT) on Jan.30th, keep stable from the previous week. Meanwhile, scrap price at Peso 9,300/MT ($945/MT), raise up Peso 200/MT ($25/MT) from the previous week. Prices expect to increase even though reducing inventories is now a strategy.
Viet Nam
Vietnamese imported the HRC price at $670/t on Jan.31st, an increase of $15/ton compared to before the holiday. A major steelmaker in Viet Nam also informed on Feb 01st that they will increase HRC price to $57/ton for March delivery. The construction steel products in the domestic market in Vietnam also increase by about $21/t due to high input costs.
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.
