With U.S. prices stabilizing after recent volatility and China facing sustained downward pressure from export restrictions and production adjustments.
The U.S. Midwest HRC spot market shows mixed signals, with ex-works Indiana prices at $880/st, while June 2025 futures contracts trade at $827/st. Recent volatility saw prices dip before recovering to $893/st for front-month futures. Mills maintain offer levels near $935/st for July 2025 deliveries, though spot transactions remain muted, with lead times at 3–5 weeks.
China’s Q235B 4.75mm HRC ex-warehouse Shanghai prices hold at ¥3,425/tonne ($473/tonne), down from earlier levels. Export markets face headwinds, with FOB China offers for SS400-grade HRC at $625–630/tonne, while anti-dumping duties in Vietnam constrain trade volumes. SHFE futures for June 2025 delivery settled at ¥3,801/tonne, reflecting cautious domestic sentiment.
|
Region |
Delivery Term |
Price |
|---|---|---|
|
U.S. Midwest |
Ex-Works Indiana (Spot) |
$880/st |
|
U.S. Midwest |
CME HRC Futures (July 2025) |
$935/st |
|
U.S. Midwest |
FOB Mill (Nucor Weekly Offer) |
$43.50/cwt ($870/st) |
|
China Domestic |
Ex-Warehouse Shanghai |
ÂĄ3,425/tonne ($473/t) |
|
China Export |
FOB Main Port (SS400 Grade) |
$625–630/t |
|
China Futures |
SHFE HRC (June 2025 Settlement) |
ÂĄ3,801/tonne ($525/t) |
The U.S. market benefits from trade policy stability, while China navigates production cuts and export competition. Both regions face demand uncertainty heading into Q3 2025, with U.S. prices likely to stabilize near $850–900/st and Chinese domestic prices pressured toward ¥3,300–3,400/tonne.
