CHINA HRC: Exporters keep offers stable despite impending rebate rise

China’s hot-rolled coil exporters kept offers largely unchanged on Wednesday March 18, but a 3% rise in China's export rebate to 13% from Friday is likely to lead to a fall and will boost domestic demand ahead of the increase.

Domestic
Eastern China (Shanghai): 3,480-3,500 yuan ($497-499) per tonne, unchanged
Northern China (Tangshan): 3,360-3,380 yuan per tonne, widening upward by 20 yuan per tonne

China's Ministry of Finance announced on Tuesday night that China’s HRC export rebate will rise from 10% to 13% from Friday March 20, which means domestic HRC prices will rise due to declining supplies when more stock is diverted to the export market, several sources said.
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Published

Miranda Song

March 18, 2020

10:04 GMT

Shanghai