Buyers opting for cheaper CRC, HDG from smaller Chinese mills

Overseas buyers are opting to purchase Chinese cold-rolled coil and hot-dipped galvanized coil from smaller mills in China amid major exporters’ high offers, sources told Fastmarkets in the past week.

Cold-rolled coil
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob China main port was $750-765 per tonne on Tuesday January 12, widening upward by $5 per tonne from $750-760 per tonne cfr a week earlier.
Traders said cargoes were sold at $750-765 per tonne fob China during the week. These mainly consisted of products sold by smaller Chinese mills, which had more competitive prices than those for cargoes offered by major steelmakers.

Major mills are in no hurry to offload cargoes because they concluded a lot of transactions in the past few weeks. As such, they are not entertaining low bids from overseas buyers,...

Published

Paul Lim

Miranda Song

January 13, 2021

08:40 GMT

Singapore