Steel price index – 2024/11/02-09
Steel NewsDate: 11-11-2024 by: Ngoc Cam
MRS Steel's latest report dives into the global steel market's movements over the past week, providing insights into key events impacting the steel price index week 2024/11/01-09
Discover how anti-dumping measures, raw material costs and changing export trends are shaping prices worldwide.
Exporting Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
China | Q195 HRC 3mm | Viet Nam | 408-505 | CFR - Dec/Jan shipment |
China | Q235 HRC | Viet Nam | 510-515 | CFR - Dec/Jan shipment |
China | SAE1006 50% 2mm | Viet Nam | 530 | CFR - Dec shipment |
China | SAE1006 50% 2mm | Viet Nam | 525-530 | CFR - Dec shipment |
Indonesia | SS400 | Viet Nam | 540-550 | CFR - Dec/Jan shipment |
Korea | SAE1006 | Viet Nam | 535 | CFR - Dec/Jan shipment |
Japan | SAE1006 | Viet Nam | 540 | CFR - Dec/Jan shipment |
China | Wire rod | Viet Nam | 495-500 | CFR - Jan shipment |
Indonesia | Wire rod | Viet Nam | 495 | FOB - Jan shipment |
Indonesia | Wire rod | Thailand | 530 | CFR - Jan shipment |
China | Wire rod | Thailand | 505-515 | CFR - Jan shipment |
Malaysia | Wire rod | Thailand | 520 | CFR - Jan shipment |
China | Wire rod | Philippines | 500-505 | CFR - Jan shipment |
India | HRC IS2062/E250 BR | India | 563-575 | EXW Mumbai - Dec shipment |
China | HRC commercial grades | India | 520-525 | CFR - Dec shipment |
Turkey | HRC | Turkey | 605-620 | EXW - Dec shipment |
Russia | HRC 1.9-4mm | Turkey | 545 | CFR - Dec/Jan shipment |
Germany | HRC | Germany | 570-590 | EXW - Dec shipment |
Turkey | HRC | EU main ports | 580-600 | CFR FO - Dec/Jan shipment |
Italy | HRC | Italy | 570-580 | EXW - Dec shipment |
Korea | HRC | EU main ports | 580-585 | CFR - Jan shipment |
Japan | HRC | EU main ports | 570-580 | CFR - Dec/Jan shipment |
Egypt | HRC | EU main ports | 570-575 | CFR - Dec/Jan shipment |
India | HRC | EU main ports | 550-555 | CFR - Jan shipment |
Decline in Chinese steel prices
Over the past week, steel prices in China experienced a significant drop of up to 3%, driven by the reassessment of the impact of the government's new economic stimulus packages on steel demand. Specifically, rebar prices on the Shanghai Futures Exchange fell to 3,230 yuan/ton, marking the lowest level in two weeks. This decrease reflects potential oversupply and a cautious market outlook.
Indian anti-dumping measures on stainless steel from China
On November 9, India imposed anti-dumping duties on certain stainless steel products imported from China to protect its domestic industry. This measure is expected to curb imports from China and could potentially lead to tighter supply and price adjustments in the regional market.
Increased Chinese steel exports due to weaker domestic demand
Reports from November 8 indicated that Chinese steel producers have ramped up exports in response to weakened domestic demand. This shift could lead to increased supply in global markets and exert downward pressure on international steel prices.
Iron ore price increase amid supply concerns
Iron ore prices, a critical component in steel production, saw an uptick due to concerns over supply disruptions from major exporters such as Brazil and Australia. This rise in raw material costs could translate into higher production expenses for steel manufacturers, potentially impacting the global steel price trajectory.
Stability in Vietnamese steel prices
In Vietnam, steel prices remained stable over the past week, with no significant fluctuations reported. This stability comes despite the backdrop of rising international iron ore prices and global market shifts.
* 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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