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 price of HRC and other steel products are expected to be on the uptrend and remain at high level until the end of Q3. We continue to share the steel market trend with our sales agents and customers to support the negotiation for price increase, minimize the T shrinkage due to raw material hike.
Japan
Japan - Major steel announced on April 19 to add JPY5,000-13,000/MT ($46-120/MT) to its list prices of carbon steel coils and sheets and square pipes for May domestic sales, to narrow the gap with international market prices, after the previous price increase by US$27-46/MT for April sales of coils and sheets.
Europe
Europe - With strong demand and shortage of supply, the price of domestic HRC in Northern Europe climb to EUR910/MT Exw, rose by EUR16/MT week one week. But rebar price is stable at EUR670/MT (US$790/MT) while rebar price in Southern Europe increase by EUR10/MT in one week to EUR610/MT on April 14.
America
North America - Prices of domestic HRC in the US rose to an another all-time high on Monday April 12 at $1,355/short ton ($1,490/MT) FOB mills, up by 1.65% one week. Imported HRC to the US increased by 8.4% in two weeks and reached $1,450/MT DDP Houston on April 14 mainly due to global supply shortage.
Central & South America - Steel makers in Brazil applied a new round of price increases of 5-12% in the first week of April for flat steel products. The price of domestic HRC reached BRL 6,224/MT (US$1,095/MT) exw mills on Friday April 9, up by 5-6% from a month earlier. Steel rebar price also up by 15% and reached US$1,019/MT exw.
