The rebound seen in the Chinese domestic hot-rolled coil (HRC) price on Monday may support the global market, however.
Fastmarkets’ weekly price assessment for CIS-origin exports of HRC was $460-475 per tonne fob Black Sea on December 3. This was down week on week from $470-480 per tonne fob Black Sea.
The Eastern China domestic HRC price was 3,690-3,730 yuan ($531-537) per tonne ex-warehouse on December 3, surging upward by 100-120 yuan per tonne compared with November 30, but the corresponding price in Northern China was 3,460-3,550 yuan per tonne ex-warehouse, down by 160-220 yuan per tonne.
Prices have increased now that the United States and China have...