Domestic HRC pricing in Northern Europe for Ex-work mills rose on Dec 30th compared to the previous week. Buyers in the United States anticipate robust demand in the first quarter of 2023. The price of domestic HRC in China on Dec 31st increased from last week's level due to ease in Covid-19 restrictions. Steel prices in Vietnam have increased from the previous week, mirroring the worldwide trend.
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 4,060/t ($589/t) on Dec 31st increased by Yuan 20/t ($3/t) from last week's level due to ease in Covid-19 restrictions. China's HRC export offer at $605/t FOB China port, increased by $5/t from the previous week.
Japan
Japanese scrap export prices at JPY 50,000/t ($377/t) FOB on Dec 30th, unchanged from the previous week. Domestic scrap at JPY 49,000/t ($360/t), unchanged from last week. The inventory level for HRC in Japan reduce by 1.7% compared with Nov, at 170.000 t but still higher than last year's 13.3%.
Europe
Domestic prices for HRC in Northern Europe at EUR 680/t Ex-work mills on Dec 30th, increase EUR 30/t from the previous week. Price for HRC in Southern Europe at EUR 670/t Ex-works mills in Italy, increase EUR 20/t with previous week. The market trend is to restart in Jan 2023.
America
HRC price at $766/t ( $696 per short ton) on DEC.23rd, an increase of $7/MT ($6 per short ton ) from the previous week. Buyers predict strong demand in the first quarter of 2023. EAF in the US notice less profit in Q4 compared to Q4 2021.
Import HRC price at $650t on Dec.23rd, CFR main ports South America, raise up $10/t from the week before. Domestic HRC in Brasil at Real 4,450/t ( $839/t), keep stable from last week. Meanwhile, Import Steel Plate at $670/t, increased by $10/t from the previous week.
Viet Nam
Vietnamese Imported HRC price at $615/t, unchanged from the previous week. Meanwhile, the price for Steel scraps at $400/t, increased by $5/t from last week. Viet Nam kept stable imported scrap even though slow demand in the steel market. Major Steel plant in Viet Nam re-active one blast furnace, which was shut down in Nov 2022.
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.
