Chinese HRC export under pressure
Chinese HRC export prices under pressure
- 09 Aug 2008
It is reported that hot rolled steel coil export market is quite slow in China and overseas buyers are quite cautious and expect further decrease in prices.
Domestic HRC prices have seen further decrease. On Shanghai market, commercial 4.75mm to 12mm HRC in 1500mm width is at CNY 5480 per tonne to CNY 5500 per tonne down by CNY 180 per tonne from last week. That for 1800mm wide cargo goes at CNY 6020 per tonne down by CNY 130 per tonne WoW. However, price for commodity grade 2.75mm HRC go down by CNY 30 per tonne to CNY 50 per tonne to CNY 6250 per tonne to CNY 6270 per tonne.
Export offers for Q235 or SS400 grade 5mm to 12mm HRC are prevailing at USD 970 per tonne to USD 980 per tonne FOB down from USD 1030 per tonne FOB up in early July. But there has already been transaction made at USD 960 per tonne to USD 970 per tonne FOB.
