Export prices for Chinese steel products have fluctuated more greatly over the past two years. After the strong rebound in late April this year, prices for HRC – the most liquid steel product in China’s export market – have risen back to early-2013 levels of $600 per tonne fob – a development that caught many market participants by surprise.
This is an increase of over 40% since mid-April, when prices fell as low as $415 per tonne fob, according to Metal Bulletin’s price archive.
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Amid China’s fast-moving market, both Chinese HRC exporters and market participants outside the country are calling for more frequent published price benchmarks to reflect the fluctuations in a timelier manner.
Against this background, Metal Bulletin is consulting with market participants about the feasibility of upgrading the weekly assessment of export prices for Chinese HRC to a daily index.
“The market price assessment of three days ago...