CHINA HRC: Mills raise export offers despite weakening domestic market

China’s hot-rolled coil producers raised their export offers on Tuesday July 28 despite a weakening of domestic prices.

Eastern China (Shanghai): 3,910-3,930 yuan ($559-562) per tonne, widening downward by 10 yuan per tonne
Sellers in Shanghai kept their offers at 3,920-3,930 yuan per tonne in the morning, unchanged from Monday.
But falling futures in the afternoon sent buyers to the sidelines, which pushed prices down to 3,910-3,920 yuan per tonne.

A trader in Shanghai said most major mills were keeping their prices largely stable because their lead time had increased to 7-15 days, or even longer, after they secured a...


Miranda Song

July 28, 2020

10:51 GMT