In the Chinese market, HRC prices started the week at USD 484/t. Prices increased to USD 486/t on July 27, then fluctuated over the following days before decreasing to USD 480/t on the last trading day of the week. CRC prices decreased from USD 551/t at the beginning of the week to USD 550/t on July 27, before recovering to close the week at USD 551/t. Galvanized steel prices stood at USD 608/t at the beginning of the week and decreased to USD 606/t by the end of the week. Steel plate (Q235B) prices started the week at USD 495/t, reached USD 497/t on July 28 and July 30, and closed the week with a limited increase.
In the South Korean market, HRC (2.3 mm × 4 × 8) prices followed a strong upward trend throughout the week. Prices stood at USD 456/t on July 24 and increased sharply to USD 653/t on July 27. The upward trend continued through the end of the week, with HRC prices reaching USD 656/t on July 28, USD 661/t on July 29, and USD 667/t on July 30, closing the week with a significant increase.
In the Indian market, prices moved within a relatively narrow range throughout the week. HRC prices increased from USD 595/t at the beginning of the week to USD 599/t on July 27, before decreasing to USD 597/t on July 28. Prices returned to USD 599/t on July 29 and settled at USD 597/t on the final trading day of the week. CRC prices followed a similar trend, starting the week at USD 675/t, increasing to USD 680/t on July 27, then easing slightly to close the week at USD 676/t.
Overall, the Far East flat steel market was characterized by relatively stable and limited price movements in China and India, while the sharp increase in South Korean HRC prices stood out. Market participants expect demand conditions and competition in export markets to remain the key factors influencing pricing in the coming period.
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