HRC prices continued their downward trend compared to the previous day, primarily influenced by a strike at major auto factories in Europe. Meanwhile, Japanese export scrap prices (H2 grade) on September 22nd experienced a slight decline when compared to the previous week, attributed to weakened demand from international markets and the diminishing exchange rate between the Yen and the US dollar. In the case of Vietnam's domestic HRC, prices also fell due to a lack of interest from end-users.
Let us support and share your business decision with you in this blog during the fluctuating in price trend in the steel market around the world at the end of Sep and opening Oct 2023.
China
Domestic HRC prices in China at Yuan 3,880/t ($536/t) on Sep 23rd, drop by Yuan 20/t ($1/t) compared a week earlier. Conversely, export HRC prices at $560/t FOB China port, rose up $5/t. Raw material raise up leading export price increase. Price for domestic rebar also increased, by Yuan 10/t ($1/t) at Yuan 3,770/t ( $517/t).
Japan
Japanese export scrap prices (H2 grade) at Yen 50,500/t ($341/t) on Sep.22nd, inched down by Yen 500/t ($3/t) compared previous week due to weak demand from overseas markets and the declining exchange rate between Yen and US dollar. Domestic scrap prices at Yen 46,500/t - 49,000/t ( $314/t- $330/t), down by $22/t on week.
Europe
America
HRC prices at $737/MT ($670 per short ton) on Sep.15th continue to decrease by $14/MT ($13 per short ton) compared to one day earlier due affected by a strike at major auto factories. Meanwhile, stainless steel coil prices at $4,158/MT ($3,780 per short ton), uptick by $22/MT ($20 per short ton) compared previous month.
Import HRC price at South America at $590 - 615/t, CFR main ports on Sep.15th, remain steady compared to one week before. The price for import steel plate is also mostly stable, at $630-690/t. The market was similarly quiet, lack of activity during the week.
Viet Nam
Import HRC (SAE1006) from China at $560-565/t CFR main ports, continue to reduce $5/t compared to before week amid lower booking. Meanwhile, domestic HRC at $593-$597/t CIF HCM, down by $13/t due to lack of interest from end users. Almost all customers operate at 25% - 45% of their capacity only.
If you have any questions about the purchase method, delivery date, or request for a quotation of lance products, please click the link below to complete the inquiry form so that we can respond to you promptly.
