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Weekly steel price index 2025/01/11

Weekly steel price index 2025/01/11

Steel NewsDate: 13-01-2025 by: Ngoc Cam

The "Weekly steel price index for 2025/01/11" highlights key steel price movements worldwide, with insights on trade policies, production shifts, and supply-demand dynamics. 

Discover how tariffs, production cuts and regional trends are influencing steel prices in major markets such as Europe, the US, China and India. Stay informed on the latest market changes affecting the steel industry this week with insights from MRS.

Exporting Country

Product

Importing Country

Price (USD/MT)

Trade & Shipment Term

China

Q195 HRC of 3mm base

Vietnam

450-455

CFR Vietnam – End of Feb/Early Mar

China

Q235 HRC

Vietnam

455-465

CFR Vietnam – End of Feb/Early Mar

China

SAE1006 50% 2mm

Vietnam

475-480

CFR Vietnam – End of Feb/Early Mar

Indonesia

Wire rod

Vietnam

480

CFR Vietnam – Feb/Early Mar shipment

China

Wire rod

Vietnam

455-460

CFR Vietnam – Feb/Mar shipment

China

Wire rod

Philippines

455-460

CFR Manila – Feb/Mar shipment

Indonesia

Wire rod

Thailand

480-485

CFR Thailand – Feb/Mar shipment

China

Wire rod

Thailand

470

CFR Thailand – Feb/Mar shipment

India

IS2062/E250 BR grade HRC

Domestic (Mumbai)

542-548

EXW Mumbai – Feb shipment

Russia

HRC (1.9-4mm)

Turkey

520-530

CFR Turkey – Feb/Mar shipment

China

Q195 HRC

Turkey

490-510

CFR Turkey – Feb/Mar shipment

Turkey

Domestic HRC

Turkey

550-565

EXW Turkey – Feb/Early Mar shipment

EU

HRC

Germany

600-630 (tradable: 564-594)

EXW Germany – Feb/Mar shipment

EU

HRC

Italy

580-600 (tradable: 564-584)

EXW Italy – Feb/Mar shipment

US

HRC

Domestic market

750-800

EXW US – Feb shipment

GCC

2mm SAE1006 re-rolling grade

GCC ports

515-520

CFR GCC ports – Feb/Mar shipment

GCC

3mm SS400/S235JR

GCC ports

500-505

CFR GCC ports – Feb/Mar shipment

GCC

3mm Chinese A36/Q195/Q235

GCC ports

495-500

CFR GCC ports – Feb/Mar shipment

India

2mm SAE1006

GCC ports

535

CFR GCC ports – Feb/Mar shipment

Turkey

Erdemir/Borcelik HRC

EU

560

CFR EU main ports – Mar shipment

Korea

E250A/SPHT/E350 grades HRC

EU

570-580

CFR EU ports – Mar shipment

China

1st tier mills (Baowu/Ansteel)

GCC ports

515-520

CFR GCC ports – Feb/Mar shipment

China

Domestic rebar

Turkey

475

CFR Turkey – Feb/Mar shipment

India

IS2062/E250 BR grade HRC

EU

540-550

CFR EU ports – Mar shipment

Turkey

Domestic HRC

Domestic market

550-565

EXW Turkey – Feb/Early Mar shipment

Mexico

Domestic HRC (Ternium/ArcelorMittal)

Domestic market

695-724 (equiv. 676-705)

Delivered Mexico

In the past week, trade policies have continued to significantly impact steel prices, especially the protective measures taken by major countries. In Europe, the anti-dumping duties on steel imports from countries such as China and India remain high. Accordingly, the anti-dumping duty on imported HRC (Hot Rolled Coil) steel into the EU is up to 30-40%, reducing the supply of steel from these countries, which has led to a 5-7% increase in steel prices in Europe last week, reaching approximately €620-630 per ton.

Similarly, the US continues to maintain a 25% tariff on steel imports from countries outside North America, including China. This creates a price discrepancy between domestic and foreign steel in the US, with the price of HRC steel in the US maintaining at $700 per ton, significantly higher than in other export markets. US steel producers benefit from this policy as they can keep prices stable, but it also forces steel importers to carefully consider purchasing steel from countries with high tariffs.

In the past week, one of the noteworthy updates has been the reduction in steel production from China. This trend has been ongoing since the beginning of 2024, with the Chinese government continuing to implement measures to limit steel production in order to reduce environmental pollution. As a result, China's crude steel production in the past week decreased by about 2-3%, which has caused HRC steel prices in the Asia and Southeast Asia regions to rise slightly, by about $5-10 per ton compared to the previous week. Meanwhile, India and other major steel-producing countries like South Korea have been increasing their steel production to meet domestic and international demand. This helps maintain stable steel prices in India and South Korea. However, this increase in production is not enough to offset the shortage of steel from China, especially for products like HRC and rebar, causing global steel prices to remain high.

* 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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