The price of Chinese CRC and HDG had tracked gains in the upstream Chinese hot-rolled coil market over the pricing week.
Fastmarkets MB’s daily HRC index fob China stood at $507.05 per tonne on July 2, up $10.59 per tonne from a week earlier.
The expected recovery in prices may not materialize, however, market participants said.
“Suppliers are excessively optimistic although there are no clear signs of improved demand,” a trader in Taiwan said.
Cold rolled coil
Fastmarkets MB’s weekly export price assessment for Chinese SPCC 1mm CRC was $535-545 per tonne fob China...