Weekly Steel Market Update, Price Index - 2024/09/20-27
Steel NewsDate: 30-09-2024 by: Ngoc Cam
Welcome to the Weekly Steel Market Update from MRS Steel. In this comprehensive report, we provide a detailed analysis of global steel prices, offering insights into price fluctuations across key markets and product categories. We invite you to explore the latest trends and market developments, keeping you well-positioned in the ever-evolving international steel sector.
Exporting Country | Product | Importing Country | Price (USD/MT) | Trade & Shipment Term |
Japan | Wire rod 6.5mm mesh | Thailand | 502 CFR | Nov Shipment |
China | Wire rod 6.5mm mesh | Thailand | 480-490 CFR | Nov Shipment |
Indonesia | Wire rod 6.5mm mesh | Thailand | 498 CFR | Nov Shipment |
Thailand | Wire rod | Thailand | 500-505 CFR | Nov Shipment |
China | Wire rod | Philippines | 485-490 CFR | Nov Shipment |
Malaysia | Wire rod | Philippines | 500-505 CFR | Nov Shipment |
Philippines | Wire rod | Philippines | 485-490 CFR | Nov Shipment |
China | HRC IS2062/E250 BR | India | 568-580 EXW | EXW Mumbai |
India | HRC | Turkey | 570-575 EXW | EXW Price |
Turkey | HRC | Turkey | 485-495 CFR | CFR Turkey |
Russia | HRC | Turkey | 485-495 CFR | CFR Turkey |
India | HRC S235 | Turkey | 530-535 FOB | FOB India |
China | HRC SAE 1006 | GCC | 525-530 CFR | Nov Shipment |
China | HRC SS400/S235JR | GCC | 515-520 CFR | Nov Shipment |
China | HRC A36/Q195/Q235 | GCC | 500-505 CFR | Nov Shipment |
India | HRC SAE 1006 | EU | 585-590 CFR | Nov Shipment |
EU | HRC | EU | 625-642 EXW | EXW Germany |
EU | HRC | EU | 614-625 EXW | EXW Italy |
EU | HRC | EU | 570 CFR | CFR EU Port |
EU | HRC | EU | 530-550 EXW | CFR EU Port |
Turkey | HRC | EU | 540-560 EXW | EXW Italy |
India | HRC | EU | 530-535 CFR | CFR Antwerp |
Taiwan | HRC | EU | 575-585 CFR | CFR EU Port |
India’s domestic price drops and anti-dumping measures
India's JSW and Tata have dropped domestic HRC prices (IS2062/E250 BR) to around $568-580 EXW Mumbai, likely due to subdued domestic demand and the impact of regulatory challenges, including import restrictions and BIS licensing issues.
Furthermore, anti-dumping measures against Indian imports in regions like Turkey (11.65% margin on Tata Steel) and the EU are influencing India’s export strategy and competitiveness.
Europe's steel market dynamics
The European HRC market has been under pressure from oversupply, with tradable values declining to around €540-560 EXW Germany and €530-550 EXW Italy. Demand in key steel-consuming sectors remains low and the competition from external imports has pushed European mills to reduce prices. This situation is aggravated by the ongoing anti-dumping investigation against imports from Egypt, India, Japan, which affects the volume and price dynamics of HRC in Europe.
Turkey's Erdemir and other mills are offering at around €510/mt ($570 CFR), indicating their attempt to remain competitive despite the downward pricing trend in the EU.
* Please note that all pricing information in this article is based on data collected and analyzed by our team and is intended for reference purposes only. Prices are subject to change and may not be accurate at all times.

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