China CRC, HDG export prices slump amid reduced domestic demand

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell during the week to Tuesday February 18 amid a slowdown in domestic trading while downstream sectors gradually return to work.

Many mills have turned to the export market to make-up for the deficit in domestic demand, sources told Fastmarkets.
The recent depreciation in the Chinese yuan also boosted the cost-competitiveness of Chinese exports, which are typically settled in dollars.
The Chinese currency was pegged at 6.9826 yuan per $1 on February 18, compared with 6.8878 yuan to $1 a month ago, 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 $505-515 per tonne on Tuesday February...

Published

Lee Ken Kiat

February 18, 2020

11:30 GMT

Singapore