China's CRC, HDG export prices strengthen, but HRC steals the show

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil strengthened significantly over the past week amid uncertainties over China’s export tax rebate for steel products.

But these increases paled in comparison with those experienced by hot-rolled coil, with some mills selling this product at higher prices than the two downstream flat steel products.
At least one major Chinese steelmaker has offered HRC to Vietnam at $970 per tonne cfr, which far exceeds prices for Chinese CRC and HDG even after factoring in freight costs.
Others Chinese mills are offering HRC to the export market at $780-800 per tonne fob - very close to prices for Chinese CRC - but on the condition that buyers shoulder part of the cost if China’s government decides to lower the country’s export tax rebate.

Speculation...

Published

Paul Lim

Miranda Song

April 07, 2021

08:06 GMT

Singapore, Shanghai