Steel Market Move - Feb 22nd, 2022

[Market Move] Rising Price

We provide the up to date information on the Steel market categorized by areas:

Japan - China

For March 22nd sales, Tokyo Steel boosted rebar and H-beam pricing by JPY 3,000/t (US$26/MT) while keeping HRC prices unchanged, resulting in new rebar and H-beam prices of US$800/MT and US$992/MT, respectively. Meanwhile, one major blast furnace steel mill increased the price for clients in the auto, construction, and machinery categories by US$86-US$173/MT in the first quarter of FY 2022.

On February 18th, China's HRC export bids increased by US$10-20/MT to US$820-840/MT FOB China. HRC offers to Vietnam remain unchanged at $855-875/t CFR, while steel plate offers to Korea have been up for April 22. Domestic HRC was traded for RMB 4,960/t (US$785/MT) in Eastern China, down US$25/MT.


Domestic HRC prices in Europe rose last week, owing to strong demand and a scarcity of imports. The domestic HRC pricing index EXW Northern Europe was at US$1,088/MT (€961/t), up €41/t or 4.5 percent in a month.

[Market Move] Hot Roll Coil


On February 17th, HRC prices in the United States were calculated at $1,000/short ton (US$1,100/MT) FOB mill, down 8.2% from one week earlier. HRC prices have fallen to this level for the first time in 14 months. Many people expect the price will hit the baseline and then bounce next month. Import prices of flat-rolled steel from South America were erratic and lacked a discernible pattern until last Friday. The market saw modest reductions for China-origin goods, but larger offers for Japanese material.

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Steel Market Move - Feb 22nd, 2022