China’s CRC, HDG export prices up on bullish tone after China output cuts

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose for the first time since early April after the municipal government in northern China’s steelmaking hub of Tangshan said steelmakers in the city would have to lower production by at least 20% until the end of July to reduce pollution.

Prices in the upstream HRC market surged following the announcement, with Fastmarkets MB’s daily HRC index fob China rising by $8.59 per tonne week on week to $492.92 per tonne on June 24. Cold rolled coil Fastmarkets MB’s weekly export price assessment for Chinese SPCC 1mm CRC was $520-535 per tonne fob China on Tuesday June 25, up by $5-10 per tonne from a week earlier. Several cargoes of the assessed product were sold at $520-535 per tonne fob China during the week to Tuesday June 25. Liaoning-based Benxi...

Published

Lee Ken Kiat

June 25, 2019

17:40 GMT

Singapore