Chinese steel mills are going to negotiate with Korean buyers about the export price of carbon steel hot rolled coil (HRC) for next February. So far, it is certain that the price would be surged by at least US$10/ton for next Jan-Feb shipment.
On the other hand, Japanese steel mills will increase their HRC export prices to Korea as well. They hope the prices to reach US$600/ton CFR released on November 2013 although Japanese steel mills are still uncertain.
Meanwhile, for Vietnamese steel market, the HRC local price has increased by US$20/ton to US$585~US$590/ton CFR since December. However, the CRC local price remains around US$560/ton CFR.
For Indonesia, the HRC local price is similar to the price in Vietnam about US$585~590/ton CFR.
Market insiders expect the market prices of HRC in Asia will go up until next March with prices up around US$5~US$10/ton per month.
