- Hoa Phat rolls over HRC prices for Nov’25 sales
- Japan’s steel exports decline m-o-m in Aug’25
Nippon Steel, a major Japanese steel producer, kept its hot-rolled coil (HRC) export prices steady m-o-m for end-November and early-December 2025 sales, with offers for the Middle East and ASEAN at $520/tonne (t) CFR. Notably, Nippon Steel is not offering to Europe and India due to trade restrictions.
Factors affecting export offers
1. Global peers keep prices stable: Vietnamese steel major Hoa Phat Group has kept its HRC (SAE1006, non-skin-passed) prices stable m-o-m for November sales after increasing prices in the previous month. November prices are at approximately $528/t or VND 13,943,756/t for the southern region, excluding VAT.
2. Domestic market remains weak: Japan’s steel market is currently experiencing sluggish demand due to weak market conditions, which is reflected in the lacklustre nationwide shipments. The construction sector presents a mixed picture, as many prime contractors are delaying new projects. However, there is some optimism, with rising inquiries for year-end projects.
The manufacturing sector remains cautious, hampered by uncertainty over US negotiations and labour shortages, impacting the imported steel outlook. Despite these challenges and high production costs squeezing profitability, positive signs have emerged, such as rising machine tool orders and growing digital transformation investments, potentially boosting future steel demand.
3. Steel exports decline: Japan’s steel exports in August 2025 stood at 2.24 million tonnes (mnt), declining by 170,302 t or 7% m-o-m as compared to 2.41 mnt in July 2025. Notably, on y-o-y basis, the export volumes dropped by 170,302 t or 7% against 2.41 mnt in August 2024.
Of these, export volumes of finished flat steel stood at 1.93 mnt in August 2025, down by 138,566 t or 6% from 2.06 mnt a month ago. Furthermore, on a y-o-y basis, export volumes dropped by 126,961 t or 6% against 2.05 mnt last year.
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