The price of domestic HRC in China on Feb 18th was unchanged compared with last week. Japanese scrap suppliers seem to focus on the domestic market in this period due to uptrend demand. HRC US Midwest price on Feb.17th, lightly increase from 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 4,100/t ($604/t) on Feb 18th was unchanged compared with last week. China's HRC export offer at $660/t FOB China port, increased by $40/t from the previous week. In some countries, manufacturers raise up prices, lead positive market sentiment with higher demand in the coming weeks is expected.
Japan
Japanese H2 scrap export prices at JPY 52,750/t ($392/t) FOB on Feb 17th, decreased JPY 600/t ($4/ton) from the previous week. Domestic scrap prices at JPY 53,500/t ($408/t), unchanged compared to last week. Overall, Japanese scrap suppliers seem to focus on the domestic market in this period due to uptrend demand.
Europe
Domestic prices for HRC in Northwest Europe at EUR 785/t Ex-work mills on Feb 16th, increase EUR 20/t from the previous week. And HRC rose by EUR18/t in Southern Europe to EUR 770/t Ex-works mills in Italy. High energy and shortage of competitive import offer lead domestic HRC prices to raise up, but the demand is not strong.
America
HRC US Midwest price at $919/MT ($835 per short ton) on Feb.17th, lightly increase $14/MT ($12 per short ton ) from the previous week. Some sources believe the market will not move gradually anymore but others said some mills will stop operating, and this will boost prices with the limited suppliers.
Import HRC price at $710/t CFR main ports South America, increased $5/t from a week earlier. Meanwhile, the Import steel plate price at $730/t slightly decreased by $3/t from the previous week due to ocean freight being down $3-$5/t.
Viet Nam
Vietnamese imported HRC price at $700/t on Feb.06th, an increase of $30/ton compared to one week previous. Meanwhile domestic HRC price at $652/t CIF HCM for March & early April sales. Export Billet price at $630/t, raising up $20/t compared with last week. Another hand, the domestic rebar price at $678/t, an increase of $18/t from the earlier week.
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