Chinese steel prices for export HRC have hardly decreased by $5/t from the previous week. In the meantime, the price of Japanese export scrap (H2 grade) increased in comparison to one week earlier on May 26. The price of domestic HRC in the US is steady from the previous week, and it is predicted that prices in June will be lower than the level of May prices.
Let us support and share with you in this blog your business decision during this up-trend market around the world at the end of May and starting Jun 2023.
China
Export HRC prices at $545/t FOB China port, lightly reduced $5/t compared previous week. Domestic HRC prices in China also decreased Yuan 80/t ($11/t) to Yuan 3,640/t ($515/t) on May 27th due to weak demand. Domestic rebar prices at Yuan 3,660/t ($ 518/t), downward Yuan 170/t ($24/t) during week.Japan
Japanese export scrap prices (H2 grade) at Yen 47,500/t ($351/t), rose up Yen 1,000/t ( $7/t) compared one week earlier, on May.26th. Meanwhile, Domestic scrap prices at Yen 47,000/t ($347/t), keep stable for two weeks. Prices trend upward near future due to a shortage of supply.
Europe
Domestic HRC prices at EUR 755/t ($815/t) in Northwest Europe on May 25th, decreased EUR15/t ($16/t) compared one week earlier. HRC prices in Italy also reduced EUR 50/t ($54/t) to EUR 700/t ($756/t). Weak demand in construction areas and competitive prices from import HRC have pulled prices down.
America
Price of US domestic HRC at $1,169/MT ($1,063 per short ton) on May 23rd, unchanged from the previous week. Meanwhile, ferrous scrap prices fell down two months consecutive due to weak demand. Prices in Jun estimate will be lower than May prices level.
Import HRC prices of South America at $ 605/t in May.26 CFR main port, reduced $10/t compared to earlier week. Meanwhile, ferrous scrap prices in Mexico at 9,000 pesos ($504/ton) on May.23, reduced 350 pesos ($20/t) compared to one week earlier. Prices fell down due to a downward trend in global prices.
Viet Nam
Major Steel Mill announced new price for HRC (SAE1006, skin pass) in Jun & Jul delivery at average $590/t, continues cut down $37/t after $65/t reduced last week. Slow demand is main reason affected on this announment. Meanwhile, domestic rebar prices keep unchanged during week, at $ 630/t..
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.
