Looking at the overall outlook for the Asian HRC market, weak domestic demand, export-focused sales, and low-margin competition continue.
This week, major producers such as China, India, and Korea continued to narrow margins to remain competitive in exports. Demand is coming mainly from Southeast Asian and Middle Eastern markets; in domestic markets, mill inventories are high and demand remains weak.
On the trader side, a cautious mood prevails due to both long delivery times and current tax risks. Prices are expected to decline slightly in the short term.
On the other hand, there is talk of partial cuts in steel production in the country, but no serious supply shortage has been seen so far. While iron ore prices fluctuate, producers are focusing more on exports due to cost pressures. Chinese and Indian producers are selling goods to the Middle East and Türkiye with low freight rates and aggressive offers. Producers in Japan and Korea, on the other hand, are exporting in limited quantities with higher quality and standards.
Looking at the last week of September, the general expectation is that HRC prices may decline slightly. Export competition may continue for Southeast Asian and Middle Eastern buyers, which could put pressure on prices. Freight costs have been stable in recent weeks, but delivery times and port congestion could affect price behavior. According to market experts, sudden increases are unlikely, and the export-focused and narrow margin situation in the market will continue for some time.
The latest HRC offers from the Asian region are as follows:
- China 500-510 $/t CFR
- India 520-525 $/t CFR
- Taiwan 505 $/t CFR Abu Dhabi
- Japan Nippon 505-510 $/t CFR Abu Dhabi (15 kt)
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