November 20, 2008

Chinese HRC export prices slow down this week

It is reported that Chinese export market for hot rolled steel coil remain slow this week and there have been less contracts at the current high price level.

Domestic HRC prices are still in downward adjustment. On Shanghai market, commercial 4.75mm to 12mm HRC in 1500mm width was at CNY 5780 per tonne to CNY 5820 per tonne down by CNY 50 per tonne from last week. That for 1800mm wide HRC was at CNY 6220 per tonne a decrease of CNY 20 per tonne. However, price for commodity grade 2.75mm HRC has increased by CNY 80 per tonne to CNY 6180 per tonne.

Export offers for commodity grade HRC by tier two steel makers were prevailing at USD 1020 per tonne to USD 1040 per tonne FOB and those by tier one producers are at USD 1050 per tonne FOB.

(Sourced from MySteel.net)