China hot rolled coil market this week

This week, against the background of the overall weak downward trend of global plate prices, China's steel prices continued to rise. Due to the weakness of the external market, the driving effect of the increase in the FOB price of Chinese resources is relatively limited. The new transactions generated on the basis of the price increase in the second half of the week show that the Asian region has followed up.

HRC export: Driven by strong raw material prices, stable control and macro expectations, Chinese steel mills continued to raise their export quotations for hot rolled Carbon Steel Coil this week, but the overall transaction volume was poor. The quotation of some Chinese superior SS400/Q195 hot-rolled coils rose from US$572-574/ton CFR Vietnam at the beginning of the week to US$580-585/ton CFR; buyers` inquiries were about US$575/ton CFR, and the trading volume was weak. This Wednesday, according to feedback from a first-tier state-owned steel mill in Northeast China, its official quotation for SS400 hot-rolled coil rose to US$585/ton FOB. On Friday, an exporter in Shanghai reported that for the increase in the price of hot-rolled coils, the degree of follow-up of buying orders in different regions is quite different. Buyers in the Middle East are acceptable, while South America and Southeast Asia are less acceptable. According to the trader's feedback, the quotation of A36 hot-rolled coil to South America is US$560-575/ton FOB, and the transaction is average. In terms of cold-rolled base materials, the FOB prices of state-owned steel mills exceeded US$600/ton FOB this week, but according to feedback from Vietnamese importers, the selling price of China`s superior SAE1006 hot-rolled coils is US$585-595/ton CFR, but there are still no buyers Within the acceptable range, the market waits for the further clarification of the rise in Chinese steel prices and waits and sees. The export price of SS400 hot coil in Tianjin Port, China (600717) is US$580/ton FOB, an increase of US$30/ton from the previous month.

*Above carbon Steel Coil knowledge is provided by Shandong Steel Sheet coil manufacturers*

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