China’s hot coil price advantage is obvious, and some steel mills have opened their March shipping schedule for export orders

Today, the price of Chinese hot coils is stable and trending towards strength. As of the time of publication, the spot price of mainstream 3.0 hot coils in Shanghai is 4170 yuan/ton (584 US dollars) JAC440R steel.

In terms of exports, the export quotations of large steel mills are all above 580 US dollars/ton FOB, which has some room for negotiation. Some steel mills are starting to accept export orders for the March shipping schedule next year. According to feedback from a Southeast Asian merchant, as the end of the year approaches and there are more holidays, although the demand for steel in Southeast Asia has been affected to some extent, the price advantage of Chinese hot coils is still significant, and there will still be rigid procurement demand. At the beginning of this month, Vietnam's large leading steel mills and Fa Steel raised the SAE1006/SS400 hot coils delivered locally in March next year to 600 US dollars/ton CIF, and the hot coils exported to Southeast Asia from Japan, South Korea and Taiwan, China of China were all above 600 US dollars/ton CFR JAC440R steel.

In terms of exporting rebar, the current resource prices in China are relatively high, and the mainstream British standard B500B quotation is currently at 580 USD/ton FOB (actual weight), with limited room for negotiation. In addition, there has been a slight increase in the ocean freight prices of bulk carriers recently. Considering the overall cost, businesses in Hong Kong, China and Singapore mainly purchase threaded steel from Southeast Asia, with prices ranging from $570 per ton of CFR JAC440R steel.