Thin demand for Chinese CRC, HDG in international market

Export prices for Chinese steel cold-rolled coil edged up over the past week despite thin trading, while those for hot-dipped galvanized coil were unchanged.

Persistent concerns over the possibility of export duties being imposed on steel, rising freight rates and port congestion continued to dent the appeal of Chinese material in the international market, sources told Fastmarkets on Tuesday September 7.
“The congestion across Chinese ports is not showing any signs of easing,” a Hangzhou-based trader said last Friday September 3. Vessels still have to wait for 2-3 weeks before they can berth, sources told Fastmarkets on Tuesday.
The specter of export duties for steel also remains even though the latest official data points to a decline in exports of Chinese finished steel.

China exported 5.05 million tonnes of finished steel in August, down by 10.9% from a month earlier, according to the latest Chinese customs data released on Tuesday. This is the lowest that exports have been...


Zihuan Pan

September 07, 2021

10:30 GMT