The global hot rolled coil (HRC) market displayed varied movements last week, shaped by differing supply and demand conditions in various regions. Recent reports reveal that the export price of HRC from the Black Sea region held steady at $450 per ton FOB, maintaining the same level as the previous week. This stability is largely attributed to persistent supply pressures in the area.
In China, although overseas demand saw a modest decline, export prices for HRC dipped slightly by $2, settling at $452 per ton FOB. This marginal reduction suggests that Chinese manufacturers are aiming to stay competitive on the global stage.
Meanwhile, Southeast Asia’s import market also saw a minor downward shift. The price for imported HRC dropped by $1 to $468 per ton CFR. Experts point to higher inventory levels and growing expectations of continued price drops in the near future as the main reasons for this movement.
Across Europe, the market faced more notable weakening. Domestic HRC prices declined by €10 per ton, reaching €570 per ton ex-works. The drop is linked to slowing manufacturing output and weakening industrial demand, with inflation and sluggish economic growth further compounding the pressure.
Conversely, the U.S. market saw positive momentum. Domestic prices for HRC climbed by $5, bringing the rate to $870 per short ton. This rise is attributed to growing demand from the industrial sector and the ongoing momentum of infrastructure development projects.
In summary, current assessments show that regional differences in economic outlooks, production strategies, and demand levels are driving divergent price movements in the global steel market. Analysts expect these localized price fluctuations to persist in the coming weeks.
Comments
No comment yet.