China’s HRC Export Prices Hold Steady Amid Limited Sales and Mixed Market Signals
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China’s export prices for hot-rolled coil (HRC) remained firm over the past week, despite a tug-of-war between supportive and bearish market forces, according to Mysteel’s weekly roundup. Transaction volumes, however, stayed subdued as exporters navigated challenges and opportunities in key markets.
As of February 28, Mysteel’s assessment pegged the export price of SS400 3mm HRC at $472/tonne FOB from Tianjin port in North China, unchanged for six consecutive weeks. Optimism among Chinese exporters was fueled by anticipation of potential policy boosts from the Two Sessions—the annual gatherings of the National People’s Congress and the Chinese People’s Political Consultative Conference—set to take place in Beijing from March 4 to March 11.
This positivity was offset by Vietnam’s recent move to impose preliminary anti-dumping (AD) duties of 19.38% to 27.83% on Chinese alloyed and non-alloyed HRC (1.2-25.4 mm thick and up to 1,880 mm wide), effective March 7. In response, Chinese mills and traders shifted focus to wider 1,900-2,000 mm HRC, which are exempt from the duties. Offers for these coils held steady at $475-485/t CFR, with small deals reported at $470-480/t CFR. Some exporters tested the market by raising quotes to $495-500/t CFR, gauging buyer reactions.
Vietnamese buyers, meanwhile, turned to alternatives from Indonesia, Japan, and India, where HRC offers ranged from $515-520/t CFR—still pricier than Chinese options, according to local traders. Domestically, Vietnam’s Hoa Phat Steel Group raised its SAE1006/SS400 HRC prices by $15/t for April delivery on March 3, reaching $515-517/t CIF, aligning with market forecasts.
In the Middle East, caution prevailed ahead of Ramadan, which begins in early March. Chinese HRC offers to the UAE dipped slightly to $485-495/t CFR from $485-500/t CFR the previous week, while 1.2 mm HRC to Saudi Arabia fell to $545-550/t CFR from $560/t CFR, Mysteel reported.
Despite stable pricing, limited sales reflect the delicate balance Chinese HRC exporters face amid policy hopes, trade barriers, and shifting regional demand.
China’s export prices for hot-rolled coil (HRC) remained firm over the past week, despite a tug-of-war between supportive and bearish market forces, according to Mysteel’s weekly roundup. Transaction volumes, however, stayed subdued as exporters navigated challenges and opportunities in key markets.
As of February 28, Mysteel’s assessment pegged the export price of SS400 3mm HRC at $472/tonne FOB from Tianjin port in North China, unchanged for six consecutive weeks. Optimism among Chinese exporters was fueled by anticipation of potential policy boosts from the Two Sessions—the annual gatherings of the National People’s Congress and the Chinese People’s Political Consultative Conference—set to take place in Beijing from March 4 to March 11.
This positivity was offset by Vietnam’s recent move to impose preliminary anti-dumping (AD) duties of 19.38% to 27.83% on Chinese alloyed and non-alloyed HRC (1.2-25.4 mm thick and up to 1,880 mm wide), effective March 7. In response, Chinese mills and traders shifted focus to wider 1,900-2,000 mm HRC, which are exempt from the duties. Offers for these coils held steady at $475-485/t CFR, with small deals reported at $470-480/t CFR. Some exporters tested the market by raising quotes to $495-500/t CFR, gauging buyer reactions.
Vietnamese buyers, meanwhile, turned to alternatives from Indonesia, Japan, and India, where HRC offers ranged from $515-520/t CFR—still pricier than Chinese options, according to local traders. Domestically, Vietnam’s Hoa Phat Steel Group raised its SAE1006/SS400 HRC prices by $15/t for April delivery on March 3, reaching $515-517/t CIF, aligning with market forecasts.
In the Middle East, caution prevailed ahead of Ramadan, which begins in early March. Chinese HRC offers to the UAE dipped slightly to $485-495/t CFR from $485-500/t CFR the previous week, while 1.2 mm HRC to Saudi Arabia fell to $545-550/t CFR from $560/t CFR, Mysteel reported.
Despite stable pricing, limited sales reflect the delicate balance Chinese HRC exporters face amid policy hopes, trade barriers, and shifting regional demand.
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