Currently spot HRC price stand at US$500-650/ton FOB in Asia and is expected to reach US$700/ton FOB.
It seems that there are some signs of recovering in the Chinese domestic HRC market, which will probably generate some impacts on the export of HRC during the traditional Chinese New Year.
The price of HRC which is exported to Korea from Japan is usually regarded as a benchmark price in Asia. Currently, according to the previous negotiation by Japanese mills and their Asia customers in the manufacturing and consumer electronic industry, the HRC which would be delivered during January and March this year stand at US$800~900/ton.
Accordingly, galvanized steel makers are predicted to raise their prices soon. Source: Yieh.com