China’s CRC, HDG export prices tumble amid coronavirus pandemic

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell for a third week amid worsening demand, with novel coronavirus (2019-nCoV) infections continuing to surge outside of China.

Market participants said that a recent depreciation of the Chinese yuan against the dollar enabled suppliers to reduce their asking prices.
The Chinese currency was pegged at 7.0999 yuan per $1 on Tuesday March 24, compared with 7.0094 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 $480-490 per tonne on Tuesday, down $10-15 per...


Lee Ken Kiat

March 25, 2020

04:16 GMT