Posted on 30 Jul 2025
China's hot-rolled coil (HRC) export market trended upward over the past week, with mainstream offers seeing multiple rounds of increases. However, actual transactions for the flat steel remained subdued as most overseas buyers grew cautious amid fast-rising prices and U.S. tariff uncertainties ahead of the August 1 deadline, according to Mysteel's weekly survey.
As of July 25, the Chinese export price of SS400 3mm HRC under Mysteel's assessment gained for the second week by $10/t to $475/t FOB from North China's Tianjin port.
At the start of last week, buoyed by positive macroeconomic expectations, Chinese export offers climbed above $470/tonne FOB, up by around $5/t from the previous week. However, the quick price rise prompted many overseas buyers to retreat to the sidelines, with some major traders and mills holding off tabling offers and becoming more cautious in pricing strategies, Mysteel learned.
Midweek, expectations of disruptions in China's coal supply pushed up steelmaking raw material prices, offering further support to domestic steel prices. Rumors that Beijing may roll out structural optimization policies for key sectors, including steel, also lifted sentiment, the survey noted.
At North China's Bayuquan port, major mills raised their HRC export offers to $480/t FOB, up $15/t on week, while most actual deals were heard between $465-470/t FOB. Still, buyers remained hesitant due to the fast price rise and a lack of clarity over the upcoming U.S. tariff policies set to take effect on August 1.
By late week, mainstream offers continued to firm above $480/t FOB, with offers from major mills at Bayuquan port staying within $480-490/t FOB, and mills limited bid concessions to less than $5/t. While mills showed strong willingness to maintain recent gains, high offers failed to draw buying interest. Market feedback indicated most buyers remained cautious, with limited inquiries and concerns over potential price corrections.
Despite strong cost support and bullish macro sentiment, pressure is building for Chinese exporters to sustain high offers amid lagging demand. Survey respondents warn that attention now turns to developments in US-China tariff negotiations and overseas buyer reactions in the coming weeks.
In Southeast Asia, Q235 HRC offers in Vietnam held steady at $488-495/t CFR last week, while standard-width coils for August shipment were quoted at $474/t CFR. Indonesian SAE1006 coil offers to Vietnam jumped to $510/t CFR early in the week but later softened to $505/t CFR as buyer bids dropped to $485/t due to weak demand.
In the Middle East, Chinese HRC offers to the UAE were stable at $480-490/t CFR with few deals. In Saudi Arabia, HRC offers rose to $538-543/t CFR amid rising orders triggered by port congestion-related delays.
Meanwhile, China's export price for 1.0mm SPCC cold-rolled coil climbed for the third straight week, higher by another $10/t on week to reach $540/t FOB Tianjin by July 25, Mysteel's assessment showed.
Source:Mysteel Global
