The February 6-10 period was the first full trading week after the end of the week-long lunar New Year holiday in China.
Spot hot rolled coil (HRC) prices were up by 10 yuan ($7.30-8.70) per tonne this week in both Eastern China and Northern China, following a sharp rise in the paper market.
Rebar prices in China pushed up this week. In Eastern China were up 50-60 yuan ($7.30-8.70) per tonne this week, while those in Northern China were 170-180 yuan ($24.70-26.20) per tonne higher, amid surges in the billet and futures markets.
On the export side, Chinese prices for cold rolled coil (CRC) and hot dipped galvanized coil (HDG) have widened upwards compared with pre-holiday levels, despite a weakening domestic market, with mills taking a more aggressive stance and refusing to lower their export offer prices.
China’s export prices for long steel, meanwhile, have fallen slightly compared with two weeks ago amid competition from low priced products...