Posted on 24 Sep 2025
Chinese export prices for commercial-grade hot-rolled coils (HRC) rose during September 13-19, while interest in China-origin coils from foreign buyers was still subdued, Mysteel's weekly market roundup shows.
Earlier in the week, rising domestic HRC prices – buoyed by strengthening HRC futures prices at home – prompted some steelmakers to raise their offers to overseas buyers. Offering prices from some mills drifted up to $485/tonne FOB China, with the tradable level sitting at $475-480/t FOB, the report notes.
By mid-week, some steel mills had lowered their offers slightly to $480/t FOB, while tradable levels stayed flat on week at $470-475/t FOB.
As of September 19, offering prices from Chinese mills had remained at $480-485/t FOB, with tradable levels unchanged at $470-475/t FOB.
The same day, the export price of SS400 3mm HRC from North China's Tianjin port under Mysteel's assessment had strengthened by $6/t on week to sit at $485/t FOB.
In Southeast Asia, import prices for SS400 3mm HRC from mills in China and elsewhere also mounted by $6/t on week to $498/t CFR, according to Mysteel's tracking.
Malaysian hot coils were quoted at $507-510/t CFR Vietnam, unchanged from the previous week. Local Vietnamese steelmakers Hoa Phat Steel and Formosa Ha Tinh Steel had lifted their domestic HRC prices (dollar-equivalent) last week, as Mysteel Global had reported, which ensured that Malaysian coils retained a competitive edge in the Vietnamese market, the report notes, adding that this prompted a surge of inquiries from local buyers.
Quoted prices for Indonesian hot coils also bound for Vietnam stabilized on week at $508/t CFR Vietnam, while the tradable level was lower by $3/t at $505/t CFR Vietnam.
Notably, Vietnamese buyers are still issuing inquiries for 1,900~2,000mm wide hot coils from China during the survey week, with quoted prices for Q235 and SAE1006 HRC steady on week at $490/t and $495/t CFR Vietnam, a market source suggested.
However, as Vietnamese enterprises had filed an anti-circumvention petition targeting Chinese HRC in widths greater than 1,880mm but less than 2,300mm on September 10, as Mysteel reported, China's HRC exports to Vietnam are expected to fall in the near future, according to sources in Shanghai.
In the Middle East, several deals were concluded in the UAE market last week. A local buyer ordered hot coils at $550/t CFR from a flat steel producer based in a member country of the Gulf Cooperation Council (GCC). In addition, a UAE trader purchased 20,000-30,000 tonnes of Chinese HRC at $500/t CFR Jebel Ali port last week. Currently quoted prices for Chinese hot coils to be shipped to the UAE in November stabilized at $500-510/CFR.
A Chinese market watcher noted that while HRC restocking demand still existed in the UAE market, local buyers were weighing up the faster delivery of coils from the GCC region against cheaper Chinese resources.
In Saudi Arabia, import prices for HRC also ticked higher during the sample week, with quoted prices for 1.2mm China-origin hot coils rising from the previous week's $545-550/t CFR to $550-560/t CFR. However, the rise in prices seemed to have restrained transaction activities, with no deal involving big tonnage heard recently.
Meanwhile, on September 19, Mysteel assessed the export price for Chinese 1.0mm SPCC cold-rolled coil higher by $4/t on week at $540/t FOB from Tianjin port.
Source:Mysteel Global
