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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