Steel price index – 2024/10/18-25
Steel NewsDate: 29-10-2024 by: Ngoc Cam
In this week’s MRS Steel report, we dive into recent shifts in global steel prices, focusing on the impact of fresh anti-dumping policies from countries like South Korea, Turkey, and the EU.
These measures reflect a growing trend of market protectionism, affecting both price and supply dynamics.
Exporting Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
China | HRC | Viet Nam | 490-498 | CFR Viet Nam – Nov/Dec shipment |
China | HRC | Viet Nam | 500-503 | CFR Viet Nam – end Nov/Dec shipment |
China | HRC | Viet Nam | 515 | CFR Viet Nam – Dec shipment |
China | HRC | Viet Nam | 510-515 | CFR Viet Nam – end Nov/Dec shipment |
Japan | HRC | Viet Nam | 545 | CFR Viet Nam – Dec shipment |
China | Wire Rod | Viet Nam | 490-495 | CFR Hai Phong/Ho Chi Minh – Dec shipment |
Indonesia | Wire Rod | Viet Nam | 525-530 | CFR Viet Nam |
Thailand | Wire Rod | Thailand | 525 | CFR Thailand – Dec shipment |
Malaysia | Wire Rod | Thailand | 520 | CFR Thailand – Dec shipment |
China | Wire Rod | Phillipines | 505-510 | CFR Manila – Dec shipment |
India | HRC | India | 553-565 | EXW Mumbai for IS2062/E250 BR grade |
Turkey | HRC | Turkey | 600-610 | EXW Turkey – Nov/Dec shipment |
China | HRC | Turkey | 540-550 | CFR Turkey (rumor) – Nov/Dec shipment |
Russia | HRC | Turkey | 555 | CFR Turkey – Nov/Dec shipment |
Vietnam | HRC | Global | 540 | FOB – Nov/Dec shipment – no deal yet |
EU | HRC | EU | 615-637 | EXW Germany – Nov/Dec shipment |
Italy | HRC | EU | 604-615 | EXW Italy – Nov/Dec shipment |
EU | HRC | EU | 583-604 | EXW Germany – tradable values |
Italy | HRC | EU | 572-594 | EXW Italy – tradable values |
EU | Wire Rod | EU | 620 | ex-works – Drawing-quality wire rod (rumor) |
EU | Wire Rod | EU | 610 | ex-works – Mesh-grade wire rod (rumor) |
Egypt | Wire Rod | EU | 626-637 | CFR Rotterdam – limited impact |
US | HRC | US | 804 | EXW – Nov/Dec shipment |
Mexico | HRC | Mexico | Dropping trend | EXW – closely linked to US market |
Egypt | HRC | EU | 615-621 | CFR EU main ports – Dec shipmen |
This week saw several notable developments in global anti-dumping (AD) policies impacting the steel industry. South Korea officially launched an AD investigation on stainless steel plates imported from China, following claims from domestic manufacturers of unfair competition due to low-priced imports. Preliminary results are anticipated within three months, potentially affecting import duties and subsequent pricing.
Turkey also made headlines by implementing AD duties ranging from 15% to 43% on steel imports from China, Russia, India, and Japan. This decision reflects Turkey's response to rising steel imports and aims to stabilize its domestic market amid ongoing trade disputes between China and the EU, where similar protective measures are in place.
The European Union is weighing an extension of its steel safeguards through 2026. This strategy is part of the EU’s efforts to curb the impact of low-priced imports on its market, accompanied by environmental reviews on the steel production process in several European countries.
These developments reflect increasing global measures to protect domestic steel industries, contributing to price volatility and supply adjustments that market participants are closely watching.
* 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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