China’s CRC, HDG export prices rise on domestic strength

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose over the past week with steelmakers increasing their offers in response to a strengthening domestic market.

Sources told Fastmarkets that a stronger Chinese yuan had also encouraged exporters to raise their offers to make up for any shortfall from selling in dollars.
The exchange rate was 6.9969 yuan to $1 on Wednesday December 18, compared with 7.0385 yuan to $1 a week earlier, according to China’s State Administration of Foreign Exchange.
Cold-rolled coil

Fastmarkets’ weekly price assessment for steel cold-rolled coil export,...


Lee Ken Kiat

December 18, 2019

07:35 GMT