This was due to ongoing speculation about an export tax possibly being announced in mid-June to keep more steel supply in China, a trader in eastern China said.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob China main port
was $900-921 per tonne on Tuesday June 8, down by $4-15 per tonne from $915-925 per tonne a week earlier
Many overseas buyers were hesitant to place bids during the week because of China’s softening domestic steel market, a trader in Southeast Asia told Fastmarkets.
"They are waiting for prices to fall...