CHINA HRC: May's lower exports weigh on domestic prices

China’s domestic hot-rolled coil prices tumbled on Monday June 7, the first working day of the week, following the release of data showing a big drop in exports in May.

Eastern China (Shanghai): 5,500-5,510 yuan ($859-861) per tonne, down by 80-120 yuan per tonne.
The latest customs data shows that the country’s steel exports fell by a third last month in comparison with April, following the removal of export tax rebates for a range of products on May 1.

China’s finished steel exports amounted to 5.27 million tonnes in May. While this is 19.8%...


Zihuan Pan

June 07, 2021

10:28 GMT