Scrap export prices in Japan were unchanged from the previous week. China's HRC exports grew over the previous week as a result of the Chinese government's intention to implement some steps to bolster domestic demand and continued Covid policy easing.
Let us support and share with you in this blog for your business decision during this down-trend market around the world closing 2022.
China
The price of domestic HRC in China at Yuan 4,090/t ($586/t) on DEC 17th increased by Yuan 90/t ($13/t) from last week's level. China's HRC export offer at $590/t FOB China port, increased by $10/t from the previous week due to China's Government intending some measures to boost domestic demand and continuous Covid policy easing.
Japan
Japanese scrap export prices at JPY 49,000/t ($360/t) FOB on DEC 16th, unchanged from the previous week. Meanwhile, domestic scrap at JPY 49,000/t ($360/t), increased by JPY 3,000/t ($20/t), the highest price during one month. The buyer showed their interest in Japan material but still dealt with limited quantities.
Europe
Domestic prices for HRC in Northern Europe keep stable at EUR 630/t Ex-work mills on Dec 16th. Price for HRC in Southern Europe at EUR 630/t Ex-works mills in Italy, unchanged from the previous week. Buyers are still hesitant while market demand is still weak.
America
HRC price at $726/MT ( $660 per short ton) on DEC.12nd, a decrease of $22/MT ($20 per short ton ) from the previous week. Even though the price is lower than last week, buyers still focus on the inventory level.
Import HRC price at $640/MT on DEC.16th CFR main ports South America, increase $17/MT from a week earlier. Meanwhile, Ocean freight is stable in this area.
Viet Nam
Vietnamese Imported HRC price at $590/t, an increase of $35/t from the previous week. Meanwhile, domestic HRC in VietNam is at $610/t, an increase of $70/t from last week (for delivery in FEB 2023). In 2023, the Government promotes investment in infrastructure projects with the goal of ensuring economic growth that can support domestic steel demand, especially for construction steel.
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