The Weekly Steel Price Index 2024/11/30 by MRS Steel provides an in-depth overview of the latest steel prices, market fluctuations, and trade insights from key global markets. Stay informed with the most recent trends affecting the steel industry this week.Exporting CountryProductImporting CountryPrice (USD/MT)Trade & Shipment TermChinaQ195 HRC 3mm baseViet Nam490-495CFR Viet Nam, end of Dec/Jan shipment, deal at 485ChinaQ235 HRCViet Nam495-500CFR Viet Nam, end of Dec/Jan shipmentChinaSAE1006 50% 2mmViet Nam505-510CFR Viet Nam, end of Dec/Jan shipmentKoreaSAE1006Viet Nam535CFR Viet Nam, Jan shipment, bids around 510-520JapanSAE1006Viet Nam535-540CFR Viet Nam, Jan shipment, bids around 510-520ChinaWire rodViet Nam485CFR Viet Nam, Jan shipmentIndonesiaWire rodViet Nam485-490FOB Indonesia, Jan shipmentIndonesiaWire rodThailand515CFR Thailand, Jan shipmentChinaWire rodPhilippines480CFR Manila, Jan shipmentIndiaHRCIndia559-564EXW Mumbai, IS2062/E250 BR gradeChinaHRCIndia490-495CFR Indian ports, commercial grades Q195TurkeyHRCTurkey580-600EXW Turkey, Dec/Jan shipment, discounts for large ordersChinaQ195 HRCTurkey515-525CFR Turkey, Jan shipmentRussiaHRC 1.9-4mmTurkey533CFR Turkey, Jan shipment, FOB Russia for Black Sea market: 495-500EUHRCEU600-610EXW Germany, Jan shipmentIndiaHRCEU545-555CFR EU main ports, Jan/Feb shipmentTaiwanHRCEU550-560CFR EU main ports, Jan/Feb shipmentKoreaHRCEU590-600CFR EU main ports, Jan/Feb shipmentJapanHRCEU565-570CFR EU main ports, Jan/Feb shipmentChinaHRCUS750 (spot price)EXW, Jan shipment, tradable price 738-760 USD/mtMexicoHRCMexico733Delivered price, equivalent 714 USD/mt CFRThe global steel market has seen significant fluctuations and developments over the past week. From price changes to trade barriers, here are the key highlights:Anti-dumping measures and trade barriersAnti-dumping measures continue to impact steel trade between key producing countries and import markets. In the European Union, steel imports from China, India, Russia and Japan are subject to varying levels of anti-dumping duties. Chinese mills, such as Han Steel and Shougang Jingtang, face duties ranging from 20.56% to 57.75%. Similarly, the EU has set preliminary dumping margins for Indian steel at 10-20% and for Russian steel at around 16%. These measures reflect ongoing concerns about unfair pricing and the protection of local industries in Europe.Demand fluctuations and market sentimentIn Europe, the steel market has been largely subdued due to weak demand and market uncertainties. A recent announcement by a major European car manufacturer regarding potential factory closures and layoffs has raised concerns about future demand for steel. As a result, the price spread between HRC and Hot-dip galvanized steel has narrowed. On the positive side, North European mills have already sold out their December-delivery materials, with January shipments now available. However, restocking efforts remain sluggish across much of Europe, particularly in Southern Europe, where mills are releasing higher prices for Q1 2025.Developments in U.S. Steel MarketIn the United States, steel prices remain robust, particularly in the domestic market. There are discussions around potential tariffs, as President-elect Donald Trump has pledged to increase tariffs on steel imports from Mexico, Canada, and China, which could have a significant impact on steel costs for U.S. businesses and consumers.* 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.