China’s CRC, HDG export prices tumble despite partial US-China trade pact

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dived in the week to Tuesday October 15 despite an agreement for a partial trade deal being reached between China and the United States.

The US announced last week that it would suspend plans to increase tariffs on $250 billion in Chinese goods although no formal pact has been signed by the two countries.
However, tensions between the two countries continued this week after the US House of Representatives passed several measures on Hong Kong that was not viewed favorably in Beijing.
Cold rolled coil
Fastmarkets’ weekly price assessment for steel cold-rolled coil export, fob China, was $485-490 per tonne on Tuesday October 15, down by $15 per tonne from a week earlier.

A shipment of CRC was booked by a buyer in South America at $490 per tonne fob...

Published

Lee Ken Kiat

October 16, 2019

12:55 GMT

Singapore