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 steel billet is still the main concerns of steel industry, so the price of HRC is expected to be more expensive and stay high in the coming months.
Japan & Asia
Japan - Major steel maker has decided to raise the prices of its carbon steel flats, included HRC, by JPY10,000/MT ($91/MT) for May shipments, it is about 10% increase from February prices, so as to reflect higher production costs in April and higher global prices, according to a company's announcement on March 30.
Asia - Steel demand is stronger in China that steel producers raise the list prices of rebar by CNY140/MT ($22/MT) to pass the mark CNY5,000/MT ($765/MT) for domestic sales over April 1-10. Previously, HRC price in China reached historical high at $785/MT as of March 26, up by $20/MT on week.
Europe
Europe - Prices for HRC in Turkey came close to $1,000/MT on April 01, with orders fully booked until late July, This is because the demand was strong in the country while stock levels is low, and the expectation of more price increases due to higher price across Europe.
America
North America - Prices for imported HRC in the US surged to an all-time high, due to increased global demand for HRC and buyers struggling to find supply source. The price of imported HRC DDP Houston rose to $1,220/short ton ($1,342/MT) on March 31, up by 8.18% within 2 weeks.
Central & South America - Brazilian steel makers increased the rolled steel production in the first quarter by 18.8%. The price of HRC has been increased about 25% in the first quarter and major steel makers are aimed to up its price again soon due to high material cost and lack of steel import.
