Posted on 08 Jan 2026
Chinese export prices for commercial-grade hot-rolled coils (HRC) ticked up during December 27-January 4 as low-priced cargoes decreased amid rising market focus on export compliance stakes at the start of 2026, while overseas buying activity remained subdued due to Christmas and New Year holidays, Mysteel's weekly market roundup shows.
On January 4, Mysteel assessed the export price of SS400 3mm HRC at North China's Tianjin port higher by Yuan 10/t on week at $455/t FOB.
As the export licensing system covering most steel products including HRC that China introduced last month officially went into effect on January 1 2026, non-VAT-inclusive cargo offers were heard to have largely retreated from the export market, which mainly contributed to the rise in Chinese HRC export prices, a market trader pointed out.
However, most overseas HRC buyers adopted a wait-and-see stance in the holiday season, with limited deals concluded during the survey week.
In Vietnam, Indonesian SAE1006 3mm HRC offers edged up by $5/t from the week prior to reach $490/t CFR, ahead of the New Year, but higher prices met limited acceptance in the market, market sources noted.
In India, hot-rolled coil prices strengthened as previously deferred demand returned. Local mills also announced HRC price hikes for domestic sales in January. By January 4, mainstream HRC prices in India were estimated at around INR 49,000/t or an equivalent of $544/t, EXW Bombay, about INR 800/t or $9/t higher on week.
India's finance ministry announced on December 30 to impose a three-year safeguard duty of between 11% and 12% on imported non-alloy and alloy flat steel to curb cheap imports and reinforce domestic steel prices. The duty will start at 12% on products imported between April 21 2025 to April 20 2026 and decline to 11.5% in the following year and 11% by the third year.
Russian HRC export prices remained under pressure due to a softer ruble and fierce competition among Russian steelmakers as they ramped up exports in the face of weak domestic demand.
In Europe, HRC trading stayed quiet during the holiday, but market sentiment was cautiously optimistic amid expectations of tighter import controls, including CBAM, even as current transaction prices continued to hover below mills' offers.
Meanwhile, China's export price of SPCC 1.0mm cold-rolled coil (CRC) at Tianjin port stood flat on week at $518/t FOB by January 4, according to Mysteel's assessment.
Source:Mysteel
