Posted on 26 May 2026
Chinese export prices of hot-rolled coil (HRC) remained generally stable during May 18-22, as relatively ample export orders and improving transaction activity lent some support to export prices, Mysteel Global learned.
On May 22, Mysteel assessed the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port unchanged during the survey week at $508/tonne FOB.
On the other hand, export offers from Chinese mills eased slightly to $505-520/t FOB China in the latter half of last week from $510-535/t FOB at the start of the week on May 18. The fall in domestic HRC futures prices was the culprit, sources said.
Despite softer offering prices, market sources indicated that inquiry activity and export transactions had improved at major ports in northern China and so had provided support for export prices.
Meanwhile, ongoing slab export deliveries have also reduced the availability of flat steel products, with mills saying their export pressure for HRC remains "manageable". The steelmakers are showing limited willingness to cut prices aggressively, industry sources noted.
In the key regional market of Vietnam, import offers for hot coils from India continued to trend lower, while actual trading activity showed no clear improvement because buyers still expected further price corrections in the near term.
Offers for Indian SAE1006 HRC declined from around $590/t CFR Vietnam early last week to approximately $573-575/t CFR by the end of last week. Several deals involving low-priced cargoes from India were reportedly made with Vietnamese buyers during the week.
These included a deal of 60,000 tonnes of SAE1006 HRC heard concluded at $575-580/t CFR Vietnam while a cargo of around 20,000 tonnes was reportedly sold at approximately $570/t CFR Vietnam. However, the authenticity of these deals could not be confirmed.
Nevertheless, these rumors weighed on market sentiment and reinforced expectations of softer prices, with the result that buyers in Vietnam largely maintained a wait-and-see stance during the week in anticipation for further price reductions.
Meanwhile, offers for Indonesian SAE1006 3mm HRC were heard at $587/t CFR Vietnam on May 18 before easing to $585/t CFR the following day. They remained at that level as the week ended.
Chinese Q235B/355B 3mm hot coils for July delivery were still quoted at $580-598/t CFR Vietnam, unchanged on week.
Elsewhere, on May 22 Japanese SAE 1006 2mm hot coils were offered at $630/t CFR Vietnam for July shipment, lower by $5/t from the previous week, while offers from Malaysian mills for SAE1006 3mm HRC for June delivery stood flat at $615/t CFR Vietnam during the week.
As hot coils from these sources were priced significantly above those from India and Indonesia, they failed to solicit much buying interest, Mysteel Global learned.
With most galvanized and pipe manufacturers preferring to keep business on hold, import activity in Vietnam slowed last week compared with the previous survey period, local sources indicated.
Meanwhile, on May 20 Mysteel assessed China's export price for SPCC 1.0mm cold-rolled coil at Tianjin port lower by $5/t on week at $550/t FOB. The price subsequently remained unchanged for the rest of the survey week.
Source:Mysteel Global
