The prices of exported HRC from the China port have seen an increase compared to last week, driven by positive signals from the overseas market. Meanwhile, Japanese export scrap prices (H2 grade) have remained stable since Jun. 23rd, as the demand from overseas continues to show weakness.
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 July 2023.
China
Export HRC prices at $557/t FOB China port, increased by $7/t compared to last week due to better signals from the oversea market. However, domestic HRC prices in China decreased by Yuan 30/t ($4/t) to Yuan 3,800/t ($529/t) on Jun 24th, with weak demand during the week. Domestic rebar also downward Yuan 30/t ($4/t) at Yuan 3,850/t ( $536/t).Japan
Japanese export scrap prices (H2 grade) keep stable compared to last week at Yen 49,500/t ($345/t) on Jun.23rd. Demand from overseas is still weak. Domestic scrap prices at Yen 48,500/t ($338/t), also keep stable in one week. Demand from domestic construction areas mainly comes from large projects.
Europe
Domestic HRC prices at EUR 673/t ($720/t) in Northern Europe on Jun 26th, decreased EUR 17/t ($18/t) compared previous week. HRC prices in Italy continued to reduce by EUR 10/t and reach EUR 650/t ( $695/). Lack of demand, buyers prefer to keep stock at a low level & wait for price trends.
America
Price of US domestic HRC at $995/MT ($905 per short ton) on Jun 23rd, unchanged compared to one week earlier. Even though the market keeps stable during the week but participants believe the price will downtrend more. Meanwhile, manufactories' efforts to keep prices is not falling down by trying to increase their finished products' prices.
Import HRC in South America at $610/t CFR main ports on Jun.16th, fell down $5/t compared to one week before. Meanwhile, Import HRC in Brazil is a little bit higher at $620/t CFR main ports. And export slab prices in Brazil at $660/t FOB Brazil decreased $20/t compared to last week due to US market weakness.
Viet Nam
Imported HRC prices from China keep stable at $585/t (domestic HRC prices around $565/t) compared to one week earlier. High demand for import HRC for Aug delivery due to domestic factories having sold out for Aug. Meanwhile, domestic rebar prices in Vietnam at $598/t, continued to decrease by $12/t compared with one week before due to slow demand.
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