On April 8th, domestic HRC prices in China fell. As a result of sluggish demand, Japanese export scrap prices (H2 grade) are still falling as of April 7. Due to ongoing challenges in the construction sector, which slowed down project implementation, construction steel costs concurrently decreased.
Let us support and share with you in this blog for your business decision during this up-trend market around the world starting a motivation Y2023.
China
Domestic HRC prices in China decreased by Yuan 90/t ($13/t) to Yuan 4,110/t ($598/t) on Apr 08th. Export HRC prices also decreased by $5/t to $680/t FOB China port, compared to a week earlier. Demand is still weak this week. Domestic billet prices reversed, at Yuan 3,800/t ($553/t), downward Yuan 100/t ($15/t).
Japan
Even though lack of materials, Japanese export scrap prices (H2 grade) still continue to reduce from Yen 2,000/t ($15/t) to Yen 50,500/t ($383/t) on Apr 07th due to weak demand, the lowest price since January. Domestic scrap prices hope to improve after Kanto's tender.
Europe
Domestic HRC prices were downward EUR 5/t at EUR 855/t in Northern Europe and EUR 845/t in Italy on Apr 03rd. Due to a fire incident at a major European manufacturer, HRC supply decreased in April and May, buyers looked for alternative sources of imports but the demand was still weak.
America
The price of Export Iron Ore in Brazil went down by $12/t to $87/ton on Mar 23rd but the quantity increased by 16% compared to one month earlier to reach 27 million tons in March. Meanwhile, due to high copper demand from electric vehicles and wind turbines, mining companies in Chile are now facing difficulties such as quality decline.
Export Iron Ore in Brazil at 27 mnt in March, raise up 16% compared to one month earlier, but the price was down $12/t at $87/ton on Mar.23. Meanwhile, due to high copper demand from electric vehicles and wind turbines, mining companies in Chile are now facing with difficulties such as quality decline.
Viet Nam
Construction steel prices simultaneously reduced due construction sector remains facing difficulties, slowing down the project implementation. Rebar price at $655/t, reduced by $2/t compared to two weeks earlier. Meanwhile, import HRC prices at $660/t CFR, keep stable during the week.
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