Price offers are under pressure in the Far East HRC market due to global economic conditions, regional price policies and uncertainty in demand.
In the Asian HRC market, demand remains flat due to overcapacity and expansion plans. Buyers prefer to proceed cautiously due to market uncertainty and aggressive pricing policies.
Domestic demand in China, one of the steel industry's key countries, was quite weak in the May 2025 period. As a result of weak domestic demand and export competition, prices remained under pressure and showed a downward trend. The Chinese producer trader booked 30-35 thousand tons in the UAE at a base price of USD 477/t CFR (July shipment). In general, offers in the region were reported to be at the negotiation stage and hovered around USD 457/t FOB.
As for China's pricing to Europe, it was reported that deals were concluded at EUR 560/t CFR to the Port of Antwerp due to low prices despite anti-dumping duties.
The latest offer from China to Türkiye was reported at USD 485/t CFR (July shipment).
The consecutive declines in the Chinese futures market may lead traders to offer lower prices. Buyers are cautious and are moving forward with short-term purchases, keeping a distance from long-term contracts.
Recently, it was reported that Indonesia's best known steel producer sold 20-30 thousand tons of HRC to Türkiye at around USD 485/t CFR. It was also heard that the same steel producer sold around 80 thousand tons of HRC to Israel. Market analysts considered this purchase by Israel as a very large tonnage purchase.
In the Japanese and Korean markets, prices are trying to remain stable. Although low deals of USD 465/t CFR Mumbai were heard from Russia, prices are hovering around USD 490-495/t in Japan and Korea. According to market analysts, seeing increased Russian offers in Asian markets will increase price pressure and competition.
On the Turkish side, the market was quiet before Eid. Many producers are trying to capture profit margins rather than the demand situation.
Current Türkiye HRC offers were recorded as follows:
- China HRC USD 485/t CFR Türkiye (July shipment)
- Russia HRC USD 490-500/t CFR Türkiye (offers were also heard at USD 465-470/t)
- Egypt HRC USD 560/t CFR Türkiye
- Indonesia HRC USD 485/t CFR Türkiye
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