The steel industry is a dynamic field shaped by a number of factors that vary across continents and sectors. The influence of the Far East in this sector is considerable.
A major steel producer in Vietnam has revised its hot rolled coil (HRC) offer for January 2024 delivery by $20-25 per tonne. The new price level was set at $590-595/tonne CIF, and the increase was driven by the impact of the Chinese market and possible future increases in HRC prices.
One of Japan's major EAF steel producers, on the other hand, recently decided to keep the pricing of its steel products unchanged for December 2023 delivery. Prices of JPY105,000/ton ($708/ton) for HRC remained unchanged due to lower scrap prices and higher HRC offers from steel mills in China, Taiwan and Vietnam.
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