Posted on 21 Jan 2026
China’s export price of SS400 3mm hot-rolled coil (HRC) under Mysteel’s assessment at North China's Tianjin port rose during January 12-16 by $5/tonne to sit at $460/t FOB by last Friday, Mysteel's latest market roundup showed.
The price rise was attributed mainly to cost support from firm raw materials prices and a sentiment-driven rally in HRC futures on the Shanghai Futures Exchange (SHFE).
On January 16, the most traded HRC contract for May delivery on the SHFE closed the daytime trading session at Yuan 3,315/t ($476/t), higher by Yuan 22/t or 0.67% from the previous week's settlement price, as reported.
Offers prices for hot coil for export were around $465-475/t FOB China last week, with private mills quoting toward the lower end of the range while major East China producers largely held firmer levels. The tradable level hovered around $460/t FOB China. A deal of 50,000-tonnes of Chinese hot coils was heard concluded at $460/t FOB at North China's Bayuquan port, lending certain support to market sentiment.
However, the demand recovery for hot coils in overseas markets remained relatively slow, while the new export licensing system for steel introduced by China's central government last December and which took effect in January also weighed on short-term buying activity, as uncertainty around shipment schedules slowed new order placements, market sources noted.
In India, local HRC prices continued to rise, supported by mill price hikes, higher raw material costs, the rupee's depreciation and safeguard duties that have curbed import competition. Hot coil for domestic sale was assessed at INR 51,800/t ($569/t) EXW at Mumbai, up by INR 1,000/t or an equivalent of $11/t on week. While demand remained broadly stable, persistent price gains prompted cautious buying from local buyers, sources said.
Indian SS400 and SAE1006 HRC offers to Vietnam edged up from $485/t CFR to $490/t CFR last week, with tradable levels at $480-485/t CFR Vietnam, while Vietnamese buyers targeted lower at $475/t CFR Vietnam. Indian HRC offers to the Middle East sat around $490-495/t CFR.
In the Middle East, UAE re-rollers actively replenished stocks, purchasing around 20,000 tonnes of Indian HRC at $490-495/t CFR UAE, lifting hot coil import prices by about $10/t on week. Japan-origin HRC was offered to the UAE at $495-500/t CFR, largely steady on week, while Chinese resources were quoted at $490-505/t CFR UAE, up from previous week's $480-485/t level.
By contrast, Saudi buyers remained cautious. Chinese offers for 1.2 mm HRC stood at $530-550/t CFR Saudi Arabia, but no notable transactions were reported. Buyers largely stayed on the sidelines, awaiting clearer price signals and stronger indications of downstream demand.
In Europe, local mills sought higher HRC list prices for the second quarter citing strong orders and amid upbeat sentiment brought by the Carbon Border Adjustment Mechanism (CBAM). Mill offers for March delivery were heard at around $810/t EXW, while buyers assessed workable transaction levels at approximately $750/t, broadly in line with recent deals.
On the import front, European buyers' interest in placing new orders remained subdued, as CBAM requirements and changes in trade regulations continued to weigh on market sentiment.
In the United States, local demand for hot coils was broadly stable, though tight supply limited spot transactions as most mills' order books are filled through March, prompting some buyers to shift to contract purchases, market sources noted. Current HRC prices in the country were assessed at around $950/t EXW.
Meanwhile, China's export price of SPCC 1.0mm cold-rolled coil (CRC) at Tianjin port inched down by $1/t on week to $519/t FOB by January 16, according to Mysteel's assessment.
Source:Mysteel Global
