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 global steel market has mixed trend now after Chinese government’s intervention on steel prices. Prices of long steel and flat steel have different direction, and the price on each region also move different way, but the price will continue to stay at high until the end of 3Q of 2021.
Vietnam - China
Europe
Europe – Supporting by strong demand and material shortage, the prices for domestic HRC in the EU continued to increase in the week from May 17 to May 21. The HRC offered by ArcelorMittal on May 19 up by EUR50/Mt to reach EUR1,150/MT ($1,401/t) EXW, and it increased by EUR160/MT month-on-month.
America
North America – HRC prices in the US surged above $1,600/shot ton ($1,760/MT) for the first time on May 24 to set a new record, it is the highest at all time. The price of HRC increased by $57/MT or 3.3% in one week reflecting the persistent shortage of supply and purchasing panic in the market.
Central & South America – Prices for flat steel in Brazil domestic market increased in May after steelmakers applied price increase for this month up to 17% to reflect the higher raw material cost and make it in pair with imported steel. The price of HRC increase by 13.5% to reach BRL7,115/MT ($1,350/t) on May 14. On the other hand, price for domestic steel rebar in Brazil was mainly stable in May as steel mills decided to hold the plan for price increase in May, expecting at 12-15%, and postpone to apply this plan in June. Steel rebar was transacted at BRL5,690/MT ($1,079/t) domestic delivered Brazil on May 14.
- Category:
- Steel Market Move
- Keyword:
- HRC price trend