Weekly Steel Market Insights – Key Price Movements & Trends
The weekly steel market report for the week ending 9 May 2025 reveals a blend of gains and losses as steel price trends, tariff updates, and supply chain adjustments shaped steel and metal market movements globally. From iron ore to aluminium, markets responded to both regional dynamics and overarching trade policy shifts, setting the tone for a volatile but insightful week.
📊Weekly Steel Price Trends and Market Summary
| Product | Direction | W/W Change % | Market Insight |
|---|---|---|---|
| Iron Ore 62% CFR China | ▲ | +0.88% | Early restocking gains eroded by rising port stocks late-week. |
| Scrap HMS 2 CFR Turkey | ▲ | +0.10% | Turkish bookings resumed, leaving a slight net gain. |
| Billet FOB China | ▲ | +0.90% | Higher raw material costs and SE Asian demand supported prices. |
| Billet CFR Turkey | ▲ | +1.41% | Middle East demand and firmer freight underpinned the rebound. |
| Wire Rod FOB China | ▲ | +2.22% | Export prices rose on cost pressure and steady enquiries. |
| Wire Rod Ex-work Turkey | → | 0.00% | Domestic market held flat amid lacklustre demand. |
| Rebar FOB Turkey | ▼ | -0.80% | Overseas buyers cautious, reversing mid-week gains. |
| HR Coil (HRC) | ▲ | +2.83% | Asian import appetite and futures momentum boosted prices. |
| CR Coil (CRC) | ▲ | +1.81% | Followed HRC with lagged but positive traction. |
| HDGI Coil Z 120 g/m² | → | 0.00% | Offers remained stable amid weak international orders. |
| S/S Coil 304 | ▲ | +4.68% | Strong nickel rally continued to buoy stainless prices. |
| Aluminium (LME 3-mo) | ▼ | -2.09% | Inventory build-ups at LME pressured prices downward |
Table 1.0 : movement summary -Sources Steel Orbis, Mysteel,Platts ,fastmarket ,LME
This summary provides a comprehensive overview of steel price changes, including billet prices, rebar prices, and aluminium market movements for the week ending 9 May 2025
Fig 1.0 : Bar Chart representing fluctuation for the week
🔥Weekly Global Steel Market Highlights
- China’s Production Strategy: Baosteel anticipates a 2% drop in domestic steel consumption in 2025 and a 20 million tonne reduction in indirect exports, indicating a potential supply glut.
- Japan’s Price Hike: Stainless steel producers in Japan are seeking a $200/ton increase for June exports, citing strong domestic demand and near-full capacity operations. ( Yieh Corp )
- European Slab Prices Drop: Steel slab offers in the EU fell to $500/ton CIF, down from $520–540/ton CIF in April as demand weakened. ( Agronews.ua)
- Taiwanese Price Cuts: Feng Hsin cuts round bar prices by NT$300/ton, reflecting weaker export demand and market caution. ( Yieh Corp )
- Vietnamese Focus on Domestic Market: Leading steel firms redirect investments towards domestic projects amid international trade barriers. ( Vietnam Investment Review )
US Trade Policies and Tariffs
US-China Trade Tensions:
- The US is considering reducing the 145% tariffs on Chinese goods to below 60% during upcoming Geneva talks. (Source: Yahoo Finance)
- Despite potential reductions, President Trump maintained, “80% Tariff on China seems right!” ( Source Yahoo Finance)
- China is preparing a list of US goods exempt from its 125% tariffs to ease tensions. (Source: Yahoo Finance)
US-UK Trade Agreement:
- A comprehensive trade deal was announced, involving $5 billion in new market access for US exports and reduced UK tariffs on US goods from 5.1% to 1.8%.
- Sectoral tariffs on autos reduced to 10% for up to 100,000 vehicles annually, while steel and aluminium tariffs were removed. (Source: Yahoo Finance)
EU Trade Tensions:
- The EU announced a potential $100 billion retaliatory tariff list targeting US goods if trade talks fail. Key sectors include aircraft, motor vehicles, and agri-food products. (Source: Reuters)
Mauritius Market Update:
- Annual inflation rate rose to 3.8% in April 2025, the highest since March 2024, up from 1.8% in March.
- Key contributors to the rise include food & non-alcoholic beverages (+7.6%), insurance & financial services (+10.2%), restaurants & hotels (+8%), and furnishings & household equipment (+6.2%).
- Health costs also increased by 5.8%, adding pressure to the cost of living.
- Declines in transportation (-0.9%) and housing & utilities (-0.5%) provided some offset to the overall rise.
- Monthly consumer prices increased by 0.3% in April, a slowdown from the 1% rise in March.
Source : MCB Treasury Market Report 09-05-2025
📈 Market Outlook:
The coming week will be crucial for monitoring the impact of US-China trade negotiations and the formalisation of the US-UK trade agreement. As US tariffs continue to shape market dynamics, steel prices are likely to fluctuate, with risks skewed to the downside. Meanwhile, China’s domestic adjustments and Vietnam’s focus on local markets could provide alternative market directions.
Stay updated with our weekly insights for the latest on the global steel market and price trends.
Need a tailor-made procurement game-plan?
Our team at Star Trading Global tracks every cargo, policy shift and futures print in real time.
Message us or hit “Contact” below for:
• Person-specific market briefings
• Benchmark comparisons without disclosing your price
• Forward-coverage strategies that protect margins
