2021.03.18

Steel market move 21.03.18

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We had around 60% HRC price increase from middle 2020 to March 2021, then HRC continue increase in April shipment. The ocean freight cost stay in high level and no sign of going down yet.

Asia, Japan

 Japan – Prices of H2 grade steel scrap in Japan fell by 1,000 - 2,000 Yen/MT ($9-18/MT) over the week of March 08-12. The price of H2 steel scrap was deal at $378/Mt on March 12 by an EAF steel maker in the Kanto area. This is the first time the price weakening after 5 weeks gaining, suggesting the possible turn around trend. With lower scrap price, buyers of steel billets are expecting the price of steel billet to soften, so the inquiries for billet to Japanese EAF steel producers are decreased.
 

Asia – Taiwanese steel producer CSC announced on March 12 to raise prices of flat steel products by $16/MT for April sales and prices for major flat and long steel products in 2nd quarter will be up $70-105/MT compared to 1st quarter amid strong demand from buyers and higher production costs. In the same trend, Vietnamese steel maker Formosa Hatinh Steel increases its HRC offer by $45/ton for May shipment.

 

Europe

Europe –The price of domestic HRC in Northern Europe raised further due to limited supply. The price increase about €50/MT in one month to reach the range at €780 – 800/MT ex-works on March 11. Meanwhile, the price of imported HRC from Turkey or Russia to Europe also increased by $50/ton to each to $850-900/ton CFR Antwerp.

 

America

North America – The US domestic HRC prices continue to go up and hit historic high at $1,285/short ton ($1,413/MT) FOB on March 12, increase by 2.7% in one week. In the same period, the crude steel production in the US up by 0.34% with total 1.75 million ton was produced and the average capacity utilization rate at 77.5%.

Central & South America – The export price of Brazilian steel slab increased another $20-40/MT to reach $760-800/MT FOB on March 12 due to strong demand from US buyers.

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Steel market move 21.03.18