Posted on 25 Mar 2026
Chinese export prices for commercial-grade hot-rolled coils (HRCs) climbed higher during the week of March 16-20, as firmer domestic hot coil prices were underpinned by still-high raw material costs and better home-market sales, Mysteel data show. This prompted Chinese exporters to raise their export offers further after the previous week's $11/t rise.
Mysteel assessed the export price of SS400 3mm HRC at North China's Tianjin port on March 20 at $484/tonne FOB, up by another $6/t on week and marking the highest since September 24 last year.
Also on March 20, China's national price of Q235 4.75 mm HRC was at Yuan 3,312/t ($480.7/t) including the 13% VAT, according to Mysteel's assessment, higher by Yuan 5/t on week. HRC inventories held by steelmakers and in traders' commercial warehouses had thinned further as of March 19, pointing to recovering end-user demand for the flat steel.
Improving domestic HRC sales also boosted the confidence of makers to adopt a firmer pricing stance, with some mills in North China quoting as high as $495/t FOB, Mysteel Global learned. Overall, hot coil offers for export were in the range of $480-495/t FOB during the survey week, with the lower end rising by $5/t from the previous week's $475/t FOB.
Purchasing interest from overseas buyers still exists but actual order placements were cautious amid the elevated and volatile freight rates, and the jump in hot coil offering prices.
Meanwhile, hot coil import and export prices in Southeast Asian markets also swelled, with regional markets being impacted too by rising production costs and freight rates. Offers for 3mm hot coil from Indonesia to Vietnam, for example, jumped by another $10/t on week to $540/t FOB, Mysteel Global learned.
Currently, Indian HRC is largely absent from the Vietnamese market, as tight supply and cost pressure dampened the appetite for export among Indian mills. With domestic supply constrained and local prices firm, mills are prioritizing more profitable domestic sales, resulting in very limited export offers, market sources indicated.
In the Middle East meanwhile, the continuing disruptions to shipping through the Strait of Hormuz have led the HRC import market in the region to become quiet, with trading activity subdued. No new offers were heard in this region last week.
Meanwhile, China's export price of SPCC 1.0mm cold-rolled coil at Tianjin port jumped $7/t on week to $540/t FOB by last Friday, also a half-year high, according to Mysteel's assessment.
Source:Mysteel Global
