Export tax fears limit trading activity for Chinese CRC, HDG

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil largely trended downward over the past week due to limited trading activity in the spot market.

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.
Cold-rolled coil
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...

Published

Paul Lim

Zihuan Pan

June 09, 2021

06:30 GMT

Singapore, Shanghai