China CRC, HDG export prices strengthen further on higher offers, costlier HRC

Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) rose for the sixth consecutive week on Tuesday March 19.

Mills increased their offers again on steady domestic demand in China amid the ongoing winter production cuts, and costlier hot-rolled coil feedstock also helped to push up the prices, sources said. Fastmarkets’ daily fob China HRC Index stood at $538.25 per tonne fob on Tuesday, up by $3.08 per tonne week on week. China’s domestic HRC prices likewise increased this week, amid a buying spree ahead of a reduction in the country’s value-added tax on April 1.  Cold-rolled coil Fastmarkets’ weekly export price assessment for Chinese SPCC 1mm CRC was $565-575 per tonne fob China on Tuesday March 19, up $10 per tonne from a week earlier.   Many overseas buyers continued to resist higher CRC offers from...

Published

Fiona Lam

March 19, 2019

11:47 GMT

Singapore