China’s CRC, HDG export prices continue rebound despite poor overseas demand

Chinese cold rolled coil and hot-dipped galvanized coil (HDG) export prices rose during the week to Tuesday July 2 on bullish market sentiment following output cuts in China’s steelmaking hub of Tangshan, while demand remained weak in multiple import markets.

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...

Published

Lee Ken Kiat

July 02, 2019

12:30 GMT

Singapore