Posted on 04 Feb 2026

China’s export price of SS400 3mm hot-rolled coil (HRC) under Mysteel’s assessment at North China's Tianjin port edged up by $3/tonne during the week of January 26-30 to $463/t FOB by last Friday, Mysteel's latest market roundup showed.

Offering prices for hot coil for export stood above $475/t FOB China early last week, following a small rally in HRC futures, and then softened to around $465/t FOB by mid-week due to sparse inquiries and slower restocking moves from overseas buyers. By end-week, HRC offers from mainstream Chinese steel mills had returned to above $470/t, while transaction prices were generally around $465/t FOB China.

In India, domestic hot coil prices continued to rise, supported by active buying, tight spot availability and strong export bookings. Traders expect mills to lift list prices further and are actively rebuilding inventories, while steelmakers prioritizing previously committed contracts are limiting available coils in the spot market, sources said, adding that New Delhi's safeguard duties have also curbed low-priced imports.

Mainstream HRC prices for domestic sales in Mumbai rose to INR 53,000/t ($576/t) ex-works last week, up INR 300 or an equivalent of $3/t on week, Mysteel understands. Export prices for Indian coils to Vietnam were stable, with SAE1006 and SS400 HRC quoted at $486-490/t CFR Vietnam. A 5,000-tonne deal of Indian HRC was heard concluded at $485/t CFR Vietnam.

Demand in the Middle East flat steel market remained generally moderate last week. In the UAE, import market weakened slightly, with Chinese HRC offers easing to $485-505/t CFR, down about $10/t on week.

By contrast, the Saudi market showed relative firmness. Chinese offers for 1.2mm HRC to Saudi Arabia rose from $530-550/tonne CFR to $555-560/t CFR last week, supported by buying interest for coils to certain specifications.

In Europe, hot coil prices continued to rise, driven mainly by EU safeguard measures and the Carbon Border Adjustment Mechanism. In Northern Europe, some local suppliers reported that first-quarter volumes were already fully booked. Offers for April delivery from EU mills were heard at $780-793/t EXW, while buyers estimated workable prices at around $745–757/t EXW.

Meanwhile, China's export price of SPCC 1.0mm cold-rolled coil at Tianjin port stayed flat during the survey week at $520/t FOB, according to Mysteel's assessment.

Source:Mysteel Global

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