Steel Coil Export Market Update: Gradual Recovery in Demand Across Key Regions
Steel coil exports grew slowly since the beginning of the year, but have rebounded since the spring, particularly for hot-rolled coils (HRC), cold-rolled coils (CRC), and Galvanized Coils. Inquiries from Southeast Asia, the Middle East, and South America have increased compared to the Q1, it’s a positive sign for steel coil exports.
In the first five months of 2026, China's steel exports totaled approximately 44.6 million tons, a year-on-year decrease of 8.1%*. However, May exports exceeded 10 million tons, setting a new monthly record. This indicates that despite a tense trade environment, overseas demand remains strong.
In Southeast Asia, many distributors and end users who kept low stocks earlier in the year are back in the market. HRC is the most active product, mainly for manufacturing and downstream processing. Buyers still watch prices closely, but the wait-and-see attitude from early 2026 has clearly faded.
The Middle East remains a strong market for coated products, with demand for GI and GL coils supported by construction and industrial projects. Several traders note more inquiries for custom specs and shorter lead times – buyers now value reliable supply over just chasing the lowest price.
South American demand is more project-driven. Orders match actual consumption rather than stockpiling, leading to smaller but more frequent deals. CRC and galvanized products attract interest from appliance, construction, and light manufacturing sectors.
Prices have stayed fairly stable. Mainstream Chinese HRC export offers are around the mid-US$400s per tonne FOB. CRC and coated products get premiums depending on grade, coating, and destination. Freight rates and exchange rates, which are of particular interest to buyers, have not shown a significant downward trend in the short term. Therefore, export prices are more competitive given weak domestic demand and increased competition among suppliers.
Due to the impact of trade policies and anti-dumping measures, overseas buyers consider China's stable capacity, reliable supply, and controllable delivery times as important as price advantages.
Looking ahead, demand in Southeast Asia and the Middle East remains relatively stable, while demand in South America is more dependent on specific projects. Overall, the trading environment in the steel coil market has improved compared to last year, since the beginning of 2026
*Cite from https://doi.org/10.1787/99ab9b0c-en.