Last week, the mainstream export price of SS400 hot-rolled coil in Tianjin Port was US$580/ton FOB, down by about US$10/ton on a week-on-week basis. Vietnam’s leading integrated steel mill Hoa Phat announced the latest price of domestic hot-rolled coils for September/October delivery on the 21st. / ton), the price has been reduced by 2,000 VND / kg (about 85 US dollars / ton) from the previous period’s 164,000 VND / kg, so the SAE1006 hot-rolled coils exported from China to Southeast Asia in September/October are feasible transaction prices Below $580/ton FOB.
Affected by the monsoon climate, Southeast Asia is in a seasonal off-season, the domestic market demand is weak, and international prices are down. This week, hot-rolled coils in Southeast Asia have fallen significantly. At present, the import price of SS400 grade HRC in Southeast Asia is around US$580/ton cfr, down by US$58/ton on a week-on-week basis.
This week, Vietnam’s leading steel mill, Hoa Fatt Steel has significantly lowered the price of hot-rolled coils in September. The price of hot-rolled coils of the SAE1006 grade is 615 US dollars / ton CIF Ho Chi Minh City, a decrease of 85 US dollars / ton compared with the last announced price. Ton.
It is reported that the current offer of Russian HRC to Southeast Asia is at US$560-580/ton CFR, and the quotation of Indian resources is at US$590-610/ton CFR, but there are not many transactions.
India’s local manufacturing demand has recovered, inquiries have increased, and although the pace of price declines has slowed, buyers remain cautious and the market remains broadly bearish. The decline in buying interest in traditional markets such as Europe, Vietnam and the United Arab Emirates has kept India’s HRC export prices down for more than three months. The current spot price delivered to Mumbai is around $740/ton, down $6/ton week-on-week, and the export price is around $620/ton FOB, down $20/ton week-on-week.
It is understood that a certain amount of Russian HRC has entered the Indian market. Against the background of the general decline in global steel prices, Indian steel prices are facing considerable pressure, and there is still room for further decline.
European hot-rolled coil prices rose slightly from last week, despite a recovery in demand due to higher energy prices, despite high levels of buyers’ inventories. At present, the mainstream transaction price of European HRC is US$885/ton, a month-on-month decrease of US$50/ton, and the import price of European HRC is US$790/ton, a month-on-month decrease of US$95/ton.
The price of local hot-rolled coils in the United States has maintained a downward trend, and buyers have a strong desire to go to the warehouse. Due to the narrowing of domestic and foreign price differences, the import resources are not attractive, and the import price has dropped significantly. The current ex-factory price in the US Midwest is $950/ton, down $240/ton month-on-month, and the import price is $930/ton, down $210/ton month-on-month.
Post time: Jul-28-2022