Published by:Zihuan Pan<>
9 May 2025 @ 10:40 UTC

Chinese steel hot-rolled coil prices fell further on Friday May 9 due to lingering concerns over the demand outlook amid mounting trade worries, sources told Fastmarkets. The outlook for steel demand, including HRC, was pessimistic given the tariff threats from US President Donald Trump and trade defense measures against Chinese material from various regions, sources said.
Meanwhile, upbeat export data failed to ease the concerns over steel demand or to bolster prices on Friday, according to sources.
China exported 10.46 million tonnes of finished steel in April, barely changed from March, but up by 13.4% from 9.22 million tonnes in the corresponding month of 2024. This marked the highest volume in April in history, according to data from China customs released on Friday.
Domestic Fastmarkets’ price assessment for steel HRC domestic, ex-whs Eastern China was at 3,230-3,240 yuan ($446-447) per tonne on Friday, down by 10-20 yuan per tonne from 3,240-3,260 yuan per tonne on Thursday May 8.
Eastern China HRC prices have fallen for two consecutive days on the heels of the extended losses in futures prices for the flat steel product.
Fastmarkets’ weekly price assessment of steel HRC domestic, exw Northern China was 3,180-3,200 per tonne on Friday, unchanged from two weeks earlier on April 25.
Export Fastmarkets calculated its steel HRC index export, fob main port Chinaat $450 per tonne on Friday, down by $3 per tonne from $453 per tonne on Thursday.
Chinese mills slashed their HRC export offers further on Friday due to the continued pullback in spot and futures prices and persistently muted demand, sources said.
Small, privately-owned mills offered their HRC exports at $450-457 per tonne FOB China for 3.0-3.5 mm thick, 1,250-1,500 mm wide SS400/Q235-grade HRC on Friday, down from $453-459 per tonne FOB on Thursday.
Some traders cut their offers for similar cargoes from these small mills to $442-448 per tonne FOB, down from $447-450 per tonne FOB earlier in the week.
Market participants retained their estimates of the best HRC export offers from larger, state-owned mills at $465-485 per tonne at base prices if there are firm bids.
Traders continued to report quiet trading for Chinese HRC exports on Friday, with few inquiries or bids from overseas buyers, sources said.
Green steel 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, came in at 0-550 yuan per tonne on Friday, unchanged from two weeks earlier April 25.
Mill sources maintained their expected premiums for reduced carbon emissions steel unchanged at 200-800 yuan per tonne, compared with two weeks earlier.
Market participants also kept their estimates of the workable green premiums stable at 0-550 yuan per tonne given the persistently low willingness to pay for green premiums and quiet demand.
The corresponding assessment of flat steel reduced carbon emissions, daily inferred, exw China was 3,230-3,790 yuan per tonne on Friday, down by 10-20 yuan per tonne from 3,240-3,810 yuan per tonne on Thursday.
Market chatter Market sentiment remained bearish, which kept HRC prices subdued. Because the demand outlook is dismal, but I don’t see much more downside after US Tariffs hit the current high levels, a trader in northern China said.
Shanghai Futures Exchange The most-traded SHFE October HRC futures contract closed at 3,157 yuan per tonne on Friday, down by 34 yuan per tonne fromThursday’s close of 3,191 yuan per tonne.