Posted on 29 Oct 2025
Chinese export prices for commercial-grade hot-rolled coils (HRC) stayed weak during October 18-24 as downbeat market sentiment and high stockpiles at steel mills continued to weigh on the flat steel’s export prices, while overseas buying of China-origin coils remained tepid amid slow overseas demand, Mysteel's latest market roundup shows.
Earlier in the survey week, uncertainties over the macro environment, as well as persistently elevated HRC stocks at mills, prompted some to lower their overseas offers for coils at $460/tonne, down by $15/t on week. Mainstream offering prices from Chinese mills for hot coils stayed around $475/t FOB, with transaction prices sitting around $470/t FOB, the report notes.
By mid-week, mainstream offering prices for HRC had slipped to $460/t FOB and transactions were limited. Sources suggested that some mills tentatively lowered their offers and sold a small volume of coils at $455 FOB. Another small batch of coils were heard sold to a South American buyer at the equivalent of $459-462/t FOB.
As of October 24, mainstream offering prices from Chinese mills for HRC were hovering around $470/t FOB, with transaction prices pulling back from $470/t FOB earlier in the week to $455-460/t FOB.
On the same day, Mysteel assessed the export price of SS400 3mm HRC from North China's Tianjin port at $440/t FOB, down by another $20/t on week.
Most sellers and buyers opted to stay on the sidelines last week, which in turn weighed on hot coil export prices, the report said.
In Southeast Asia, import prices for HRC of the same grade and spec from China and elsewhere were also seen to slide, dropping by $20/t on week to $453/t CFR by last Friday, according to Mysteel's tracking.
Recent torrential rains and floods brought by typhoon Matmo and Son-Tinh in northern part of Vietnam had depressed demand in the country, with transaction activities for the flat steel slowing down.
Local steelmakers offered large discounts on their steel products. Japanese sources noted that Vietnam's Formosa Ha Tinh Steel had lowered its domestic HRC price for December shipments by the equivalent of $10, bringing the price to the equivalent of around $510/tonne CIF. If domestic demand remains weak and the company is unable to sell out locally, it may offer the material to Southeast Asian markets, the sources warned.
Meanwhile, Indonesia's HRC export market is confronting dual challenges of falling prices and weak demand. Although some Indonesian producers have quoted $505/t CFR Vietnam, traders are generally offering their coils at around $496-498/t, with actual transaction prices dropping to about $495/t, the report suggests.
In the Middle East, overall trading in the UAE has slowed as many of their sellers were celebrating the Diwali holiday earlier last week. The price gap between buyers and sellers was around $10-15/t, with buyers generally adopting a wait-and-see approach pending the next round of Asian steel price guidance.
Some major Japanese mills have quoted $510/t CFR Jebel Ali for January 2026 shipments. Chinese mills' offers have hovered between $485-495/t CFR, with the latest transaction prices sitting around $490/t CFR. Offers from other Asian and Gulf Cooperation Council countries generally exceed $510–520/t CFR Jebel Ali, well above buyers' expectations, resulting in limited market interest.
Meanwhile, on October 24, Mysteel assessed the export price for Chinese 1.0mm SPCC cold-rolled coil lower by $10/t on week at $521/t FOB from Tianjin port.
Source:Mysteel Global
