Hot-rolled and cold-rolled coil producers were accepting orders to be produced in July, but buyers were reluctant to have to wait a minimum of four months for large quantities.
Most market participants said that recent price rises had been too sharp adding that the main reason was the strong demand in China, which accounts for about 50% of the global steel market.
Some Chinese steel producers had to halt production on environmental grounds
, leading to further price increases.
Fastmarkets’ steel hot-rolled coil index export, fob main port China was $719.42 per tonne on March 12,...