China’s CRC, HDG export prices rise on stronger yuan

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose in the week to Tuesday January 14 due to the recent appreciation in the yuan against the US dollar.

Exporters increased prices to make up for a shortfall from selling in dollars, sources told Fastmarkets.
The exchange rate was 6.8954 yuan per $1 on January 14, compared with 6.969 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, fob China, was $540-550 per tonne on Tuesday January 14, up by $5-10 per tonne from a week earlier.

Published

Lee Ken Kiat

January 14, 2020

11:37 GMT

Singapore