- Hoa Phat lifts HRC prices by $6/t for May’25 sales
- Domestic demand receives boost from auto sector
Japanese steel major, Nippon Steel, has kept its hot-rolled coil (HRC) export offers stable m-o-m for May 2025 shipments. Offers stood at $510/tonne (t) CFR Asia or Middle East, as per data maintained with BigMint. The company said that it has closed all negotiations for April shipments and is now moving to offer for the following month. However, the company is not offering to Europe due to safeguard and anti-dumping trade measures.
Factors affecting export offers
1. Global steel prices rise: Overseas markets have gained momentum, with steel prices rising against the backdrop of high costs. In Asia, Vietnam’s Hoa Phat Group increased its monthly HRC (SAE1006, non-skin-passed) prices by around $6/t for May’25 shipments.
2. Domestic demand shows uptrend: Japan’s domestic steel demand is showing moderate growth, sustained by ongoing infrastructure projects and automotive production. However, the sector is navigating volatility in raw material prices and global market trends. To mitigate these challenges and increase steel consumption, the Japanese government is actively promoting domestic construction and manufacturing, with a focus on sustainable and high-strength products for the future.
3. Raw material prices show mixed trends: The Kanto Tetsugen ferrous scrap export tender for April awarded a 15,000-t H2 lot at JPY 43,288/t ($297/t) FAS, down JPY 938/t and $7/t from March. The modest strengthening of the JPY (145.3 vs 147.6) m-o-m against the USD, coupled with weak demand and falling billet prices in East Asia, weighed on export sentiment.
However, global iron ore prices were steady. Benchmark Fe 62% fines prices remained stable m-o-m at $102/t CNF China on 9 April.
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