Published by: Jessica Zong<>
27 Mar 2025 @ 12:00 UTC

China’s export prices for hot-rolled coil decreased slightly on Thursday March 27 due to the pessimistic outlook among market participants after a new hit from US tariffs on automobile imports, sources have told Fastmarkets.
US President Donald Trump signed an executive order on Wednesday March 26 that establishes a 25% tariff on all imported automobiles. The tariffs go into effect on April 2 and the tariff levies will start on April 3.
The US tariffs on a wide range of products have triggered a series of chain reactions in other countries. More trade barriers have emerged in the steel export market, with local governments aiming to protect their domestic industrial companies from the impact of US tariffs.
For instance, Vietnam imposed anti-dumping duties on China’s HRC.
Because it is a major steel exporter to the international market, China is likely to face more challenges than other countries, sources said.
Domestic Fastmarkets’ price assessment for steel hot-rolled coil domestic, ex-whs Eastern China was 3,380-3,390 yuan ($465-466) per tonne on Thursday, unchanged from Wednesday.
The HRC futures market weakened on Thursday, but iron ore and coke futures market strengthened.
For instance, the most-traded May iron ore futures contract on the Dalian Commodity Exchange closed at 789 yuan per tonne on Thursday, up by 9 yuan per tonne from Wednesday’s closing price of 780 yuan per tonne.
Market participants found it difficult to predict the price trend of HRC, so they kept trade activities stable, which led to static prices, sources said.
Export Fastmarkets calculated its steel hot-rolled coil index export, fob main port China $469.60 per tonne on Thursday, down by $0.40 per tonne from $470 per tonne on Wednesday.
Small, privately-owned mills and trading houses, maintained their offers at $456-472 per tonne FOB China for 3.0-3.5mm thick, 1,250-1,500mm wide SS400/Q235-grade HRC on Thursday.
But market participants expected the workable prices to be around $456-470 per tonne FOB. Overseas buyers consistently asked for lower prices and some Chinese exporters were willing to offer discount to get orders, an exporter based in south China said.
Larger, state-owned mills also kept their offers for similar cargoes unchanged at $465-500 per tonne FOB at base prices on Thursday.
Green steel Fastmarkets’ assessment of flat steel reduced carbon emissions, daily inferred, exw China was 3,380-3,940 yuan per tonne on Thursday, unchanged from the day prior.
This was assessed based on Fastmarkets’ fortnightly price assessment of flat steel reduced carbon emissions differential, exw China, which calculates the premium for flat-rolled reduced carbon emissions steel over products produced from the traditional blast furnace-based route and came in at 0-550 yuan per tonne on Friday March 14.
Market chatter To reduce the potential risks posed by trade barriers, some steel mills are reducing their production of steel or adjusting product structure, to avoid putting too much downward pressure on steel prices and prevent negative profits across the entire industry, an industry analyst said.
Shanghai Futures Exchange The most-traded May HRC futures contract on the Shanghai Futures Exchange closed at 3,381 yuan per tonne on Thursday, down by 5 yuan per tonne from Wednesday’s closing price of 3,386 yuan per tonne.