We trust you are well. We would like to inform you lasted steel market move of our study on this week for each area.
The supply shortage of HRC and billet is still a main problem that is not easy to overcome in the short term, so the price of HRC is expected to continues to stay high in the next quarter.
Japan & Asia
Japan –A domestic steel maker announced on Mar. 22 to add JPY3,000-5,000/T ($28-46/T) to the prices of carbon steel coils and sheets for April domestic sales, though the prices of other products have remained unchanged on month. Meanwhile, steel scrap prices will likely continue softening push downward pressure on rebar prices.
Asia –The blast furnace capacity utilization rate among China’s 247 steel mills hitting its 11-month low of 87.16% after a sharp decline by 3.2% points on week, but the prices of rebar and HRC stayed largely unchanged over March 15-19, as demand showed signs of recovery, HRC Q235 4.75mm was offered at CNY 4,968/T ($764/T).
Europe –The price of domestic HRC in Northern Europe increase about €50/T in one month to reach the range at €780 – 800/T ($950/T) 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.
North America –The US domestic HRC prices continue to go up and hit historic high at $1,285/short ton ($1,413/T) FOB on March 12, increase by 2.7% in one week. 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.
- Steel Market Move
- HRC price