Posted on 09 Sep 2026
Supply may tighten following a fire on a production line at Formosa Ha Tinh Steel last week, which impacted the company's output capacity. Market sentiment shifted rapidly, leading to a slight increase in hot-rolled coil (HRC) prices across Asia.
Indonesian suppliers raised their prices by US$10/ton that same day. Additionally, China Steel Corp. (CSC) announced a price hike for October in the Taiwan market, prompting a rise in spot prices for HRC. In the Chinese market, prices declined due to weakening buying interest.
Steel traders report a narrow gap between mill offers and buyer bids. However, given that production costs remain high, trading volume would be limited unless prices are lowered further.
Overall, buyers are adopting a cautious stance, preferring to wait for price trends to become clearer before making purchases. Furthermore, as Chinese steel mills are currently prioritizing domestic sales, the intake of export orders has been relatively slow.
Source:Yieh
