Posted on 18 Mar 2026
Chinese export prices for commercial-grade hot-rolled coils (HRCs) jumped higher during the week of March 9-13, as firm support from raw material prices – especially those of iron ore and coal – drove export prices to nearly a 5-month peak.
Mysteel's latest survey shows export prices of SS400 3mm HRC at North China's Tianjin port on March 13 were at $478/tonne FOB, up by $11/t on week and marking the highest since October 15 last year.
In line with the rise in HRC export prices, hot coil offers from major Chinese steel mills also climbed, with an East China-based mill quoting as high as $490/t FOB Zhangjiagang port, Mysteel Global learned. Overall hot coil offers stood at around $475-495/t FOB during the survey week, up a notch from the prior week's $467-485/t FOB.
However, the recent upward spiral in hot coil prices led overseas buyers to remain cautious and postponing their buying decisions, market sources noted. Transaction numbers declined as a result.
Meanwhile, regional markets were buoyed by upbeat sentiment and firmer raw material costs during the survey week. Offers for 3mm hot coil from Indonesia to Vietnam, for example, jumped by $20/t on week to $530/t FOB, Mysteel learned.
In parallel, the jump in ocean freight rates from the ongoing conflict in the Middle East caused HRC offers from India to Vietnam to virtually disappear, with many exporters withdrawing their quotes for reassessment of related costs. Meanwhile, more Vietnamese buyers had turned to local steelmakers for procurement of the flat steel, market sources indicated.
Earlier this month, Vietnam's Hoa Phat Steel began notifying domestic buyers that it would be keeping its HRC prices for May shipments unchanged, with the price remaining at the equivalent of around $505/t, Mysteel Global understands.
In the Middle East, the escalation of hostilities in the region and the virtual closure of the Strait of Hormuz continued to quieten the flat steel import market there.
No new offers were heard to the UAE, while in Saudi Arabia, Chinese 1.2 mm HRC was said to be quoted at $578/t CFR at the western port city of Jeddah. The country was seeking to divert cargo from eastern province and GCC ports to other Saudi ports along the Red Sea coast, according to media reports.
Despite the quotes, there were nearly no deals concluded in the region. Pre-escalation HRC offers to Saudi Arabia were around $555-560/t CFR, Mysteel Global learned.
Meanwhile, China's export price of SPCC 1.0mm cold-rolled coil at Tianjin port stood unchanged on week at $533/t FOB by last Friday, also a five-month high, according to Mysteel's assessment.
Source:Mysteel Global
