Weekly steel price index - 20241123
Steel NewsDate: 25-11-2024 by: Ngoc Cam
The Weekly Steel Price Index 20241123 report by MRS Steel highlights significant trends and developments shaping the global steel market this week.
With fluctuations driven by anti-dumping measures, tariff adjustments, and evolving supply-demand dynamics, the report provides a detailed overview of key players, price changes and strategic advantages. Dive into this comprehensive analysis to stay informed about the latest movements in the steel industry.
Exporting Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
China | Q195 HRC of 3mm base | Viet Nam | 492-497 | CFR Viet Nam – end of Dec/Jan shipment |
China | Q235 HRC | Viet Nam | 497-500 | CFR Viet Nam – end of Dec/Jan shipment |
China | SAE1006 50% 2mm | Viet Nam | 507-510 | CFR Viet Nam – end of Dec/Jan shipment |
Korea | SAE1006 | Viet Nam | 535 | CFR Viet Nam – Jan shipment |
Japan | SAE1006 | Viet Nam | 540 | CFR Viet Nam – Jan shipment |
Indonesia | Wire rod | Thai Lan | 515 | CFR Thai Lan – Jan shipment |
China | Wire rod ad boron | Thai Lan | 495-498 | CFR Thai Lan – Jan shipment |
Malaysia | Wire rod | Thai Lan | 515-520 | CFR Thai Lan – Jan shipment |
China | Wire rod | Manila | 480-485 | CFR Manila – Jan shipment |
India | HRC IS2062/E250 BR grade | Domestic | 568-585 | EXW Mumbai |
China | HRC commercial grades | India | 515-520 | CFR Indian ports |
Turkey | HRC | Domestic | 580-610 | EXW Turkey – Dec/Jan shipment |
China | Q195 2nd tier mills | Turkey | 515-525 | CFR Turkey – Jan shipment |
Russia | HRC 1.9-4mm | Turkey | 535 | CFR Turkey – Jan shipment |
India | HRC SAE1006 re-rolling | GCC | 565 | CFR GCC port – early Jan shipment |
Japan | HRC S235JR | GCC | 560-565 | CFR GCC port – Jan shipment |
EU | HRC | Domestic | 625-645 | EXW Germany – Jan shipment |
US | HRC | Domestic | 750 | EXW US – Dec/Jan shipment |
Mexico | HRC | Domestic | 734 | Delivered price |
Impacted by trade defense measures and global supply chain disruptions, steel prices in November 2024 showed a slight upward trend. However, Vietnam's competitive edge in tariffs and product quality ensures that its steel remains highly competitive in the international market.
- Turkey: Implemented preliminary anti-dumping duties on hot-rolled coil (HRC) imports from China, India, Russia and Japan, with duties ranging from 4.7% to 57.75%, depending on the exporting country and company.
- EU: Enforced anti-dumping measures on HRC imports from Egypt, Japan, India, and Vietnam, with dumping margins between 5% and 40%, and injury elimination duties reaching up to 34.7%.
- United States: Requires steel imports from Mexico to be melted and poured in Mexico, Canada or the U.S. to qualify for Section 232 exemptions. This policy imposes a 25% tariff on steel originating from outside North America that is transshipped through Mexico.
Despite facing some anti-dumping measures, Vietnam maintains lower tariffs compared to many other countries. For instance, the EU imposes anti-dumping duties on Vietnamese HRC ranging from 5% to 15%, significantly lower than duties applied to countries like China and India.
Additionally, Vietnam has signed several free trade agreements (FTAs) with major partners such as the EU, Japan, and South Korea. These agreements reduce or exempt import tariffs on various steel products, providing a competitive advantage for Vietnamese steel in the global market. This makes Vietnam an attractive source for international businesses seeking to benefit from tariff preferences and cost savings.
* 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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