Export prices for Chinese CRC, HDG end two-month slump

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil stopped falling over the past week, with market sentiment becoming less bearish after the United States agreed to a 90-day reprieve from potential new tariffs it had planned to impose on China.

The easing of trade tensions between the two countries led to domestic steel prices in China rebounding on Monday, although market participants are uncertain about how long the uptrend would last. Cold-rolled coil Fastmarkets MB’s export price assessment for Chinese SPCC 1.0mm CRC for the week ended Tuesday December 4 was $535-545 per tonne fob China, widening upward by $5 per tonne from a week earlier. No transactions involving back-to-back cargoes were reported during the past week. Market sources estimated that the workable price range in the market was within the latest assessment. A trader was heard to have made a short sale at $525 per tonne fob. Such transactions...

Published

Fiona Lam

December 05, 2018

05:17 GMT

Singapore