National hot-rolled coil prices continue to decline
1. Market Summary
Recently, the price of hot-rolled coils in major cities across the country has continued to decline. As of now, down 10 yuan/ton. In most regions across the country, prices were mainly falling, with the average price falling between 0 and 20 yuan/ton, and some markets continued to lower quotations.
2. Import and Export Situation
Judging from the price difference between domestic and overseas markets, China's export price of hot rolled coils was reported at around US$550/ton, which was stable from the previous trading day, Foreign buyers who plan to purchase hot-rolled coils from China in the near future can take advantage of this price drop to arrange purchases.
U.S. hot-rolled Steel Prices Fall to $800 Per Short Ton
Hot-rolled steel prices in the U.S. domestic market continue to fall, with hot-rolled coil (HRC) prices falling to $800 per short ton in early March. This is reported by World Steel Dynamics. At the end of last year, U.S. hot-rolled coil prices peaked at around $1,100/ton, according to various indices, and remained stable for most of January 2024. However, negative dynamics prevailed, causing HRC prices to fall further to $840-$880/tonne. According to WSD market sources, the current purchase price of hot-rolled coils for large enterprises is US$720-750 per ton, and the order volume exceeds 5,000 tons.
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Post time: Mar-15-2024