Posted on 06 Nov 2025
Chinese export prices for commercial-grade hot-rolled coils (HRC) rebounded modestly before stabilizing during October 25-31, while overseas buying of China-origin coils saw no obvious improvement, Mysteel's latest market roundup indicates.
Earlier last week, strengthening raw material prices nationwide – especially those of coking coal and coke – constrained some of the downward momentum in HRC export prices that had been seen over the previous two weeks. Mainstream offering prices from Chinese mills for hot coils stabilized at $470-475/t FOB, with transaction prices sitting around $460/t FOB, the report notes, though this was still lower by $10/t on week.
By mid-week, the meeting between Chinese President Xi Jinping and US President Donald Trump in Busan, South Korea, had improved China-US relations and gave a lift to ferrous market sentiment, as reported. The brighter mood saw mainstream offering prices for hot coils for export from Chinese mills rise to $475-485/t FOB China, while their transaction prices averaged around $465/t. Transaction prices for coils from some privately-owned steel mills were lower by $5/t from those of mainstream state companies at $460/t, Mysteel Global noted.
Following the Xi-Trump summit on October 30 however, the HRC export market again turned cautious, given that the promised trade concessions were still to be implemented. As of October 31, offering prices from major Chinese mills for HRC were hovering around $470/t FOB, with transaction prices dipping lower to $460/t FOB.
In Southeast Asia, import prices for SS400 3mm HRC from China and elsewhere also stayed flat on week at $453/t CFR by last Friday, according to Mysteel's tracking.
Meanwhile, Malaysian hot coils were quoted at $530-535/t CFR Turkey, down by $2/t on week. Hot coil prices offered by Indonesian mills remained at $495-500/t CFR Vietnam, with transactions subdued.
In the Middle East, the HRC market warmed slightly last week as demand from local manufacturing and infrastructure sectors picked up, resulting in more deals concluded, according to Mysteel's report. However, lower quoted prices from Chinese mills led transaction prices in the region to trend lower during the survey week.
The UAE market saw brisk trading last week, with Asian hot coils taking the largest share. Hot coils from Japan were quoted at $500 CFR UAE, with transaction prices sitting at $495-510/t CFR. Chinese coils were offered at $495-505/t CFR UAE, with deals for coils from Taiwan for November shipment concluded at $505/t CFR UAE.
HRC demand in Saudi Arabia also saw a recovery. Mainstream offering prices from mills in China and elsewhere declined, with Chinese 1.2 mm hot coils quoted lower at $530-535/t CFR Saudi Arabia.
Meanwhile, on October 31, Mysteel assessed the export price for Chinese 1.0mm SPCC cold-rolled coil at $518/t FOB from Tianjin port, down by a small $3/t on week.
Source:Mysteel Global
