China’s CRC, HDG export prices fall amid short-selling, lower offers

Short-selling traders coupled with producers lowering their offers to entice buyers exerted pressure on export prices for Chinese cold-rolled coil and hot-dipped galvanized coil over the past week.

Some market participants took advantage of the current downtrend to secure a few cargoes, although others chose to remain on the sidelines on expectations that prices would decline further, a source in Tianjin said.
Cold-rolled coil
The weekly Fastmarkets MB export price assessment for Chinese SPCC 1mm CRC fell to a year-to-date low of $515-525 per tonne fob China on Tuesday June 18, down $5-15 per tonne from a week earlier.

A shipment of CRC was booked by a buyer in Southeast Asia in the...


Lee Ken Kiat

June 19, 2019

08:23 GMT