China’s CRC, HDG export prices slide on lower offers, limited market activity

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil declined during the week to Tuesday August 20 after steel mills lowered their asking prices.

The move failed to boost market activity, however, because of a bearish market sentiment and expectations that prices will reduce further, market sources said. Cold rolled coil Fastmarkets’ weekly price assessment for steel cold-rolled coil export, fob China was $510-520 per tonne on Tuesday August 20, down by $10-15 per tonne from a week earlier. Still, no bookings were reported to Fastmarkets during the week. Liaoning-based Benxi Iron & Steel on Tuesday issued an offer of $525 per tonne fob for CRC with October shipment, down by $10 per tonne from last week. Anshan Iron and Steel, which is also headquartered in Liaoning province, was heard asking for $525 per tonne fob, while material from other mills in China was available in the range of $520-525 per tonne fob. Chinese...

Published

Lee Ken Kiat

August 20, 2019

11:50 GMT

Singapore