The price of HRC (hot-rolled coil) is weakening in most markets due to low demand
[tintuc]
-is-weakening-in-most-markets-due-to-low-demand.jpg "The price of HRC (hot-rolled coil) is weakening in most markets due to low demand")
Even though September is usually a peak time for sales, the price of hot-rolled coils in China has fallen below the previous low recorded on August 19. In just one week, the price of HRC in Shanghai has dropped by about 4%. This caused steel mills to suffer more losses, with a price cut of about 50 NDT/ton compared to the end of August.
Prices are falling because demand is weak, and slow market activity has forced sellers to cut prices further. Buyers expect prices to drop even more, so they are waiting, which leads to further price declines.
In Vietnam, the two major HRC producers, Formosa and Hoa Phat, have also lowered their monthly prices following the decline in Chinese steel prices and slow domestic demand. However, these prices are still higher than import prices from China, so they have not attracted many buyers.
Falling steel prices in Asia are also putting pressure on the European market, where import prices are decreasing, while domestic demand remains low. India is now said to offer the lowest prices with quicker delivery times to Europe. However, due to recent anti-dumping investigations in Europe, buyers are hesitant to import.
In Europe, HRC prices are dropping due to low consumption in sectors like automobiles and home appliances. Domestic buying has not resumed after the summer break. Most rerollers and service centers are taking a "wait-and-see" approach. According to two local sources, they do not plan to buy this week. There are rumors that Turkish steel coils are being offered at very low prices in Italy.
[/tintuc]
-is-weakening-in-most-markets-due-to-low-demand.jpg "The price of HRC (hot-rolled coil) is weakening in most markets due to low demand")
Even though September is usually a peak time for sales, the price of hot-rolled coils in China has fallen below the previous low recorded on August 19. In just one week, the price of HRC in Shanghai has dropped by about 4%. This caused steel mills to suffer more losses, with a price cut of about 50 NDT/ton compared to the end of August.
Prices are falling because demand is weak, and slow market activity has forced sellers to cut prices further. Buyers expect prices to drop even more, so they are waiting, which leads to further price declines.
In Vietnam, the two major HRC producers, Formosa and Hoa Phat, have also lowered their monthly prices following the decline in Chinese steel prices and slow domestic demand. However, these prices are still higher than import prices from China, so they have not attracted many buyers.
Falling steel prices in Asia are also putting pressure on the European market, where import prices are decreasing, while domestic demand remains low. India is now said to offer the lowest prices with quicker delivery times to Europe. However, due to recent anti-dumping investigations in Europe, buyers are hesitant to import.
In Europe, HRC prices are dropping due to low consumption in sectors like automobiles and home appliances. Domestic buying has not resumed after the summer break. Most rerollers and service centers are taking a "wait-and-see" approach. According to two local sources, they do not plan to buy this week. There are rumors that Turkish steel coils are being offered at very low prices in Italy.
[/tintuc]
