China’s CRC, HDG export prices decline further on weak currencies, bearish sentiment

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell again over the past week, with suppliers lowering their offers amid a weaker yuan and overseas buyers’ smaller appetites.

This is the sixth consecutive week of price drops for both products.
Cold-rolled coil
Fastmarkets MB’s export price assessment for SPCC 1.0mm CRC for the week ended Tuesday October 30 was $570-585 per tonne fob China, down $10-15 per tonne from a week earlier.
Several CRC deals were reported at $570-580 per tonne fob China during the week.
Not many transactions were concluded due to a lack of buying interest, market sources said.
Demand remained soft amid depressed local markets and weak domestic currencies in major destinations for Chinese products such as Southeast Asia.

“An increase in China’s...

Published

Fiona Lam

October 31, 2018

05:36 GMT

Singapore