Posted on 28 May 2025
As of May 23, China's export price for SS400 3mm hot-rolled coil (HRC) stayed firm on week at $462/tonne FOB from North China's Tianjin port, according to Mysteel's assessment.
While major Chinese steel mills chose to defend their export HRC quotations last week, cautious overseas buyers were awaiting clearer market signals and tried to talk down the prices of China-origin flat products, Mysteel's weekly market roundup found.
In the mid-week, major mills in East and North China held their export HRC offers at $460-465/t FOB, but the actual tradable prices were generally $2-5/t lower.
Last week, Chinese 1.2mm HRC offers for Saudi Arabian buyers were at $525-530/t CFR, though no deals were concluded, Mysteel learned. In the United Arab Emirates, Chinese HRC products were quoted at $480-500/t CFR, while Indian offers firmed at $520-530/t CFR and Japanese HRC at $510-520/t CFR. A deal for over 20,000 tonnes of Japanese HRC was reached at $505/t CFR.
In Vietnam, Chinese Q235 HRC offers softened by $10/t on week to $468-471/t CIF, which moderately increased local buyers' appetite. Many late June-shipment orders were booked, according to some Chinese exporters.
Mysteel recently also noted that Vietnamese local steel majors Hoa Phat Steel Group and Formosa Ha Tinh Steel might seek anti-dumping measures against lower-priced Japanese hot coils.
Most transactions for Japanese hot coils to Vietnam were made within the CFR range of approximately $480-500/t so far this year, lower by $30/t or more than Vietnamese domestic products, which arose local market players' worries. Deals for about 40,000 tonnes of Japan-origin hot coils were concluded at $490-495/t CFR recently, Mysteel heard.
Source:Mysteel Global
