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.



Paul Lim

Miranda Song

April 07, 2021

08:06 GMT

Singapore, Shanghai