2021.05.20

Major Japanese EAF steel mill up $147/MT for HRC in June contract - Steel market move.21.05.20

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 HRC price continues to up at a faster pace now than previous months, the imbalance between supply and demand will persist at least until the end of the 3rd quarter. 

 

 

Japan - Asia

Japan – Major EAF steel mill will up all of their steel products from JPY 10,000/MT to JPY 18,000/MT ($ 92/MT to $ 165/MT) for JUNE contract. HRC price will up JPY16,000/MT ($ 147/MT) and come to JPY 110,000/MT($ 1,009/MT) from JUNE contract.

shutterstock_780626479

 

Asia – With strong demand in China, Baoshan Steel announced on May 10 to raise its list price of HRC by CNY300/MT ($47/t) for June domestic sales. Meanwhile, Shagang Group raised the price of scrap 4 times in this month with total US$101/MT up until May 13 due to limited delivery volume of steel scrap in China.

 

 

Europe 

Prices for HRC have continued to surge in Europe, due to strong demand amid a persistent material shortage. The domestic HRC price is at EUR1,090/MT ($1,320/MT) exw Northern Europe on May 13, up by EUR70/MT week on week and by EUR186/MT month on month.
 
 
 
 

America 

North America – HRC prices in the US continues to rise and reach another new record at US$1,530/shot ton ($1,683/MT) on May 10, up by 2.26% on week. This price level is three time higher than the average HRC price in the past 20 years, mainly due to the shortage of supply as the economy gradually recovers from the Covid-19 pandemic.

Central & South America - The price for HRC produced in Brazil jumped 16.2% in the first week of May and was being sold at Real 6,855/MT ($1,306/MT), ex-works, excluding taxes on May 07. The product accumulated a 46% increase on the year and 130% increase in the last 12 months.

 

 


RECENT POST「Steel Market Move」New Post


Major Japanese EAF steel mill up $147/MT for HRC in June contract - Steel market move.21.05.20