Weekly Steel Price Index 2024/11/30
Steel NewsDate: 02-12-2024 by: Ngoc Cam
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 Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
China | Q195 HRC 3mm base | Viet Nam | 490-495 | CFR Viet Nam, end of Dec/Jan shipment, deal at 485 |
China | Q235 HRC | Viet Nam | 495-500 | CFR Viet Nam, end of Dec/Jan shipment |
China | SAE1006 50% 2mm | Viet Nam | 505-510 | CFR Viet Nam, end of Dec/Jan shipment |
Korea | SAE1006 | Viet Nam | 535 | CFR Viet Nam, Jan shipment, bids around 510-520 |
Japan | SAE1006 | Viet Nam | 535-540 | CFR Viet Nam, Jan shipment, bids around 510-520 |
China | Wire rod | Viet Nam | 485 | CFR Viet Nam, Jan shipment |
Indonesia | Wire rod | Viet Nam | 485-490 | FOB Indonesia, Jan shipment |
Indonesia | Wire rod | Thailand | 515 | CFR Thailand, Jan shipment |
China | Wire rod | Philippines | 480 | CFR Manila, Jan shipment |
India | HRC | India | 559-564 | EXW Mumbai, IS2062/E250 BR grade |
China | HRC | India | 490-495 | CFR Indian ports, commercial grades Q195 |
Turkey | HRC | Turkey | 580-600 | EXW Turkey, Dec/Jan shipment, discounts for large orders |
China | Q195 HRC | Turkey | 515-525 | CFR Turkey, Jan shipment |
Russia | HRC 1.9-4mm | Turkey | 533 | CFR Turkey, Jan shipment, FOB Russia for Black Sea market: 495-500 |
EU | HRC | EU | 600-610 | EXW Germany, Jan shipment |
India | HRC | EU | 545-555 | CFR EU main ports, Jan/Feb shipment |
Taiwan | HRC | EU | 550-560 | CFR EU main ports, Jan/Feb shipment |
Korea | HRC | EU | 590-600 | CFR EU main ports, Jan/Feb shipment |
Japan | HRC | EU | 565-570 | CFR EU main ports, Jan/Feb shipment |
China | HRC | US | 750 (spot price) | EXW, Jan shipment, tradable price 738-760 USD/mt |
Mexico | HRC | Mexico | 733 | Delivered price, equivalent 714 USD/mt CFR |
The 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 barriers
Anti-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 sentiment
In 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 Market
In 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.
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