Chinese CRC, HDG export prices soften on weakened currencies, thin demand

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dipped over the past week amid a weakening of the yuan as well as the currencies of target destinations.

No deals were reported for both products during the week, particularly since not all Chinese market participants had returned after the country’s Golden Week last week. Cold-rolled coil Fastmarkets MB’s export price assessment for November shipments of SPCC 1.0mm CRC for the week ended Tuesday October 9 was $600-610 per tonne fob China, narrowing downward by $5 per tonne from $600-615 per tonne fob on September 25. Market sources said the achievable price range for CRC was around $600-610 per tonne fob. Major Liaoning-based steelmaker Benxi Iron & Steel on Tuesday offered CRC at $610 per tonne fob, $5 per tonne lower than its...

Published

Fiona Lam

October 10, 2018

06:50 GMT

Singapore