Price of domestic HRC in China at Yuan 4,230/t ($608/t) on Mar 04th, unchanged compared with last week. US domestic HRC price at $1,100/MT ($1,000 per short ton) on Mar.01st, increased $173/MT ($158 per short ton) from previous week.
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Price of domestic HRC in China at Yuan 4,230/t ($608/t) on Mar 04th, unchanged compared with last week. China's HRC export offer at $675/t FOB China port also keep stable from previous week. Fewer inquiries in this week keep price stable. Meanwhile domestic rebar price at Yuan 4,230/t ($608/t), lightly increased Yuan 30/t ($11/t) with one week earlier.
Japanese H2 scrap export prices at JPY 54,000/t ($398/t) FOB on Mar 03rd, increased JPY 2,000/t ($15/ton) from previous week. Optimism of sellers has pushed up scrap steel prices, making buyers hestitate with this price level. Domestic price expect upward after Kanto scrap export tender.
With limited import HRC and restocking actovity, the price of domestic HRC increased by Eur 15/ton to reach Eur 820/ton Ex-work mills in Northern Europe on Marc 03rd and Eur 800/ton Ex-work Italy mills in Southern Europe for May-June delivery. The price is expected to rise further as some mills have withdrawed their offers and will return with higher offers.
US domestic HRC price at $1,100/MT ($1,000 per short ton) on Mar.01st, increased $173/MT ($158 per short ton) from previous week. Two major factors drive up the HRC price are higher scrap price and a shortage of import source. Meanwhile, plate price keep stable at $1,562/MT ($1,420 per short ton), unchanged compared last week.
Price for slab export from Brazil remained at $800/ ton FOB main ports of Brazil on Mar 03rd, unchanged from the previous week. The export offers are for April shipment to North American market mainly, especially in the US market with strong demand. The demand from Brazilian steel producers was also steady, so it's optimistic about the price of slab.
Domestic rebar price at $671/t, unchanged from one week earlier. One major steel mill announced to raise HRC price for April and early May by $30/t to $683/t CIF HCM. And there will be more steel rolling mills in North Central Region of VN with a new investment to build new HRC plant has been announced.
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