Posted on 14 May 2025
During the May 6-9 week, China's export market for hot-rolled coil (HRC) experienced a slow return to trading following the country's Labour Day holiday that ended May 5. Most participants stayed cautious, holding off on deals while awaiting clearer signals for the flat steel export market, Mysteel's weekly market roundup found.
As of May 9, the Chinese export price of SS400 3mm HRC under Mysteel's assessment stayed firm at $462/tonne FOB from North China's Tianjin port, unchanged from April 30, the last working day before the holiday.
In the United Arab Emirates, Chinese HRC offers declined by $5/t from pre-holiday levels to $480-490/t CFR last week, while Indian offers also moved lower from $530-535/t to $520-530/t CFR. No order for large-tonnage imports of hot coils was heard in this market where buyers preferred to wait for further price drops, local steel traders noted.
For Saudi Arabia, Chinese 1.2mm HRC offers dropped to $515-520/t CFR from the pre-holiday range of $520-530/t. Mysteel did not hear of any concluded deals there.
In Asian markets, quotations for Chinese Q235 HRC stood at $464/t CFR South Korea during the survey week, but no inquiries were reported, according to Mysteel's tracking. Meanwhile, Chinese Q235 HRCs were offered at $470-472/t CFR Vietnam, slightly higher than the pre-holiday level of $465-467/t.
According to a latest price revision, Vietnamese steel major Formosa Ha Tinh Steel on May 12 cut its SAE1006 HRC prices for June-July domestic sales by about $14/t on month, setting prices at $508-518/t (dollar equivalent) depending on order volumes.
By May 9, China's export price of SPCC 1.0mm cold-rolled coil nudged down by $2/t from pre-holiday level to $523/t on FOB Tianjin basis, according to Mysteel's assessment.
Source:Mysteel Global
