FOB China port HRC prices have risen by $30/t compared to last week's figures. Meanwhile, domestic demand in Japan is thriving, whereas export demand is lackluster.
Let us support and share with you in this blog your business decision during this down-trend market around the world at the end of May and starting Jun 2023.
China
Export HRC prices at $560/t FOB China port, increased $30/t compared last week. Domestic HRC prices in China also increased Yuan 120/t ($17/t) to Yuan 3,790/t ($532/t) on Jun 10th. Decrease in inventory makes prices increase significantly this week. Domestic rebar prices at Yuan 3,890/t ($ 546/t), upward Yuan 200/t ($28/t) during week.Japan
Average Japanese export scrap prices (H2 grade) in Jun at Yen 48,000/t ($346/t), increased Yen 2,000/t ( $14/t) compared one month earlier. Meanwhile, average domestic scrap prices at Yen 47,500/t ($340/t), keep the same range. Export demand is weak, meanwhile domestic demand is better.
Europe
Domestic HRC prices at EUR 705/t ($761/t) in Northwest Europe on Jun 08th, decreased EUR 25/t ($27/t) compared earlier week . HRC prices in Italy also reduced EUR 10/t ($11/t) at EUR 670/t ($724/t). Eventhough Import HRC prices increased (up to EUR 615/t ( $664/t) but there is still a big difference with the domestic HRC prices.
America
Price of US domestic HRC at $1,023/MT ($930 per short ton) on Jun 08th, down by $99/MT ($90 per short ton) compared one week before. That is lowest price after three months. Meanwhile, domestic rebar prices at $ 1,012/MT ($920 per short ton) keep stable compared last week.
Import HRC prices in South America at $605/t CFR main ports on May.26th, drop by 10/t compared earlier week. Meanwhile import steel plate prices at $650/t CFR main ports, also decreased $30/t with last week. Raw materials reduced leading buyer wait and see price trend.
Viet Nam
Import HRC from Chinese at $580/t CFR main ports, increased $10/t compared previous week. Meanwhile, domestic HRC at $590/t, unchanged compared last week. Domestic scrap prices at $391/t, decreased $13/t compared one week earlier. Domestic steel demand still weak.
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