European hot coil buyers are actively seeking imports, and Indian steel mills are once again offering prices to Vietnam

This week, the ordinary Steel Coil export quotation of large domestic steel mills is temporarily stable, and the price is generally about $580-600 / ton FOB. The counter-offer price from Southeast Asian buyers was as low as $570 / ton CFR below, several orders were completed, and there was also a certain volume of new signed orders exported to the Middle East. Overseas hot roll coil quotation, Indian steel mills are making their first bid for Vietnam since July last year, prices are in the range of $635-645 / ton CFR, but enquiries as low as $600 / ton CFR are not many transactions. An Indian steel factory has secured an export order with the UAE at the price of $640 / ton CFR. It is understood that China's plate prices are still in the international depression, most of China's large steel mills export willingness is stronger, some steel mills open the April shipping date of export orders.

[ Southeast Asia ]

This week, Vietnam's hot rolled coil domestic demand remained weak, but considering that the export quota of coated steel in March and April has been sold out, most of the billet plants can accept prices or will increase.

In terms of imports, the mainstream price of Q235 hot rolled coils dropped from $570-573 / ton CFR at the beginning of the week to $567-570 / ton CFR, and the delivery date of some goods was advanced from the end of March to mid-March. For the first time since July last year, Indian steel mills are offering prices to Vietnam at $635-645 / ton CFR, but inquiries are as low as $600 / ton CFR, and there are not many transactions. The price of SAE1006 made in China is as low as $610 / ton CFR, but the transaction price is lower than $600 / ton CFR, and the transaction is average. Japan's mainstream resources traded at $640-650 / ton CFR. Due to the rising cost of raw materials, a leading Japanese steel mill may raise export prices in March. In addition, the production line of a hot strip mill is scheduled to stop production for maintenance in February, which will also increase the export price. The quotation for Taiwan China exports is $640-645 / ton FOB.

[ India ]

Due to the increase in Hot Rolled Steel Coil import prices from the end of October to the end of November last year, resulting in a decrease in import orders, there are fewer imported resources circulating in the Indian market, and the price of raw materials continues to rise, India's leading steel mills will increase the price of hot rolled coil by 500-1000 rupees/ton (6-12 US dollars/ ton), effective from January 1. After the price adjustment, the hot rolled coil (IS2062, Gr-E250, 2.5-8mm) will be priced at Rs 56,500-58,500 rupees/ ton (680-704 US dollars/ ton). If infrastructure and civil construction projects accelerate the construction schedule in the near future and strive to complete and start production before the election, the demand for hot rolled coil may be boosted.

On the export side, Indian steel mills tend to export at lower prices to support domestic prices. Although demand in the Middle East has begun to pick up, the Red Sea crisis has led to continued pressure on freight rates and difficult transactions. India's export quote remained at $690-700 / ton CFR, and a steel mill reached an export order with the UAE at $635-640 / ton CFR. European buyers returned from the holiday, but their domestic trade prices are higher, and the February-March shipping resources rely on imports. A leading steel mill reached an export order at the price of $695 / ton CFR, weighing 20,000 tons and shipping in February.

Contact us

If you have any question, please feel free to contact me by the email or telephone!

Mainly products cover Carbon Steel Plate, Ship Building Plate and Pressure Vessel Plate, Carbon Steel Coil, Carbon Steel Pipe, Structural Steel Pipe, Fluid Steel Pipe , Boiler Steel Pipe, etc.