Reduced output supports China’s CRC export prices despite weak demand

Export prices for China-origin cold-rolled coil were stable during the week ended Tuesday July 16 despite sluggish demand in the export markets because of environmental restrictions imposed on blast furnace production in the East Asian country, market sources said.

The continued supply tightness in the iron ore market was also expected to provide additional support to steel prices, a trader in Tianjin said. Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao, averaged $100.92 per tonne between April and June, up by $18.51 per tonne compared with the average of the previous quarter. Cold-rolled coil Fastmarkets’ weekly export price assessment for steel cold-rolled coil export, fob China main port, was $540-550...

Published

Lee Ken Kiat

July 16, 2019

14:12 GMT

Singapore