Chinese plate producers snub export orders amid strong domestic market

Chinese plate producers rejected several export orders in the past week to focus on the domestic market amid strong prices in China, sources told Fastmarkets.

Fastmarkets’ price assessment for July shipments of steel heavy plate export, fob China main port was $455-465 per tonne for the week ended Tuesday May 19, up by $5 per tonne from $450-460 per tonne a week earlier.
Although China’s plate export market has been quiet in recent weeks, mills are not rushing to sell.
“I heard last week that a mill in northern China rejected orders from overseas buyers involving tens of thousand tonnes,” a Shanghai-based trader said.



Miranda Song

May 20, 2020

05:40 GMT