Steel price index – 2024/10/12-19
Steel NewsDate: 22-10-2024 by: Ngoc Cam
Welcome to the latest edition of the Steel price index – 2024/10/12-19 from MRS Steel, where we deliver an in-depth analysis of recent price movements within the steel industry.
This report offers valuable insights into the fluctuations across global steel markets and various product categories. Stay informed with the latest trends and developments shaping the international steel market, ensuring that you are prepared for changes in this dynamic industry.
Exporting Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
China | Q195 HRC of 3mm base | Viet Nam | 492-500 | CFR Viet Nam – Nov/Dec shipment |
China | Q235 HRC | Viet Nam | 500-510 | CFR Viet Nam – Nov/Dec shipment |
China | SAE1006 50% 2mm | Viet Nam | 515 | CFR Viet Nam – Nov/Dec shipment |
China | SAE 1006 50% 2mm | Viet Nam | 510-515 | CFR Viet Nam – Nov/Dec shipment |
Japan | SAE 1006 | Viet Nam | 535 | CFR Viet Nam – Nov/Dec shipment |
China | 6.5mm wire rod mesh | Hai Phong/Ho Chi Minh | 505-510 | CFR Hai Phong/Ho Chi Minh – Nov/Dec |
Indonesia | Wire Rod | Thailand | 540 | CFR Thai Lan -Nov/Dec shipment |
China | Wire Rod | Manila | 505-510 | CFR Manila – Nov/Dec shipment |
India | HRC | India | 575-585 | EXW Mumbai |
Turkey | HRC | Turkey | 600-620 | EXW Turkey – Nov/Dec shipment |
Russia | HRC | Turkey | 555 | CFR Turkey – Nov/Dec shipment |
GCC | SAE 1006 HRC | GCC | 605 | CFR GCC ports – Nov/Dec shipment |
India | SAE1006 HRC | GCC | 570-580 | CFR GCC ports – Nov/Dec shipment |
EU | HRC | EU | 630-652 | CFR EU main port – Nov/Dec shipment |
EU | HRC | Italy | 619-630 | EXW Italy –Nov/Dec shipment |
Vietnam | HRC | EU | 540-550 | FOB CFR EU ports – Dec shipment |
US | HRC | US | 720-750 | EXW – Nov/Dec shipment |
Mexico | HRC | Mexico | 751 | CFR Mexico domestic delivery |
Vietnam | HRC | Mexico | 620-625 | CFR Mexico ports |
Last week, steel prices in Vietnam continued to fluctuate, primarily influenced by global market conditions. The import price of HRC from China recorded a slight decrease, with offers ranging from 492-510 USD/MT CFR Vietnam for shipments scheduled in November and December. However, many experts forecast that steel prices will rebound by the end of the year due to increasing demand in the construction sector.
According to a report from SteelOrbis, global steel prices are also under pressure, primarily due to declining demand from major manufacturing plants, especially in China. Nevertheless, with stimulus policies from the Chinese government to support the construction industry, the market is expected to recover in the first quarter of 2025.
The steel market in Southeast Asia, particularly in Indonesia and Thailand, shows signs of recovery as demand from infrastructure projects rises. However, steel prices remain high due to production costs and raw material prices. Experts warn that without timely measures, the market could face steel shortages by the end of the year.
* Please note that all pricing information in this article is based on data collected and analyzed by our team and is intended for reference purposes only. Prices are subject to change and may not be accurate at all times
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