ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Commodities

Steel prices tumble in East Asia on China lockdown glut

Hot-rolled coil stockpiles build up on weak manufacturing demand

Hot-rolled coil is used in many products, including cars and appliances, and its price serves as an indicator for economic activity.   © Reuters

TOKYO -- The price for hot-rolled coil steel has hit a 14-month low in East Asia as demand for the material, used to make a range of products from automobiles to home appliances, takes a hit from China's zero-COVID strategy.

The standard 1.6 mm-thick coil is now priced at around $780 per ton in cost-and-freight contracts, down 3% from a week prior and 19% from a recent high of $960 in mid-April.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more