In the Chinese market, HRC prices started the week flat at USD 483/t, unchanged from the previous week's closing level. After reaching USD 484/t in the middle of the week, prices climbed to USD 490/t on the final trading day, ending the week USD 7/t higher than the previous week. CRC prices followed a similar pattern, increasing from the previous week's closing level of USD 549/t to USD 550/t at the beginning of the week before closing at USD 552/t, up USD 3/t week on week. Galvanized coil prices also advanced from the previous week's closing level of USD 606/t to USD 607/t mid-week and reached USD 610/t by the end of the week. Meanwhile, steel plate (Q235B) prices increased from USD 493/t during the week to USD 497/t on the final trading day, finishing above the previous week's closing level.
In the South Korean market, HRC prices maintained an upward trend throughout the week. After closing the previous week at USD 634/t, prices opened this week at USD 638/t. Although prices eased slightly to USD 641/t in the middle of the week, they strengthened again to USD 648/t on the final trading day, recording a solid USD 14/t week-on-week increase.
In India, prices continued the downward trend seen in the previous week. HRC prices declined gradually from the previous week's closing level of USD 605/t to USD 599/t, ending the week USD 6/t lower. CRC prices also weakened, slipping from the previous week's closing level of USD 684/t to USD 683/t at the beginning of the week before closing at USD 677/t, down USD 7/t week on week.
Overall, the Far East flat steel market saw upward price movements in China and South Korea compared with the previous week, while prices in India remained under pressure due to weak demand. Regional demand conditions and competition in export markets are expected to remain the key factors influencing pricing in the coming weeks.
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