Export HRC prices FOB China port decreased compared previous week. In America, high interest, oversea import competitive prices, and the summer season will affect prices in the near future.
Let us support and share with you in this blog your business decision during this down-trend market around the world at the end of May and starting Jun 2023.
China
Export HRC prices at $530/t FOB China port, decreased $15/t compared previous week. Meanwhile, domestic HRC prices in China increased Yuan 30/t ($4/t) to Yuan 3,670/t ($518/t) on Jun 03rd. Construction area still weak demand. Domestic rebar prices at Yuan 3,690/t ($ 521/t), upward Yuan 30/t ($4/t) during week.Japan
Japanese export scrap prices (H2 grade) at Yen 47,250/t ($349/t), reduced Yen 250/t ( $2/t) compared one week earlier, on Jun.02nd due to oversea demand still being weak. Meanwhile, domestic scrap prices at Yen 47,000/t ($347/t), keep stable for three weeks consecutive. The depreciating yen is creating an export advantage.
Europe
Domestic HRC prices at EUR 730/t ($781/t) in Northwest Europe on Jun 01st, decreased EUR 25/t ($27/t) compared to earlier week. HRC prices in Italy also reduced EUR 20/t ($21/t) to EUR 680/t ($728/t). The market is still quiet due to limited transactions and buyers wait for a new lower price level in Jun.
America
Price of US domestic HRC at $1,122/MT ($1,020 per short ton) on May 26th, down by $47/MT ($43 per short ton) compared to one week before. The market slow down in recent weeks. High interest, oversea import competitive prices, and the summer season will affect on prices in near future.
Steel slab export prices in Brazil at $700/t FOB main ports on May.26th, reduced by $60/t compared previous week. Prices was down due to flat steel and raw materials are going down. Another hand, steel flat import prices in South America at $648/t, decreased $32/ton compared a last week.
Viet Nam
Import HRC from Chinese at $555/t CFR main ports, downward $15/t compared previous week. Meanwhile, domestic HRC at an average of $590/t. Domestic rebar prices at $620/t, drop by $10/t in one week. The domestic market keeps quiet with slow demand from the construction area.
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