CHINA CRC, HDG: Export prices dip amid thin trading liquidity

Export prices for Chinese cold-rolled and hot-dipped galvanized steel coil edged lower over the past week, while poor demand kept trading liquidity thin.

Uncompetitive prices and lingering concerns over the possible introduction of export duties continued to subdue the appeal of Chinese material.
“Inquires have been reduced further,” a Shanghai-based trader said on Tuesday September 28.
“Buyers are still required to shoulder the risks of potential export duties, even as the concerns have seemingly eased,” a Hangzhou-based trader said. “Buyers didn’t make purchases because they expect prices to fall or they still have orders on the way or cargoes in stock.”

Some Chinese mills, meanwhile, held back from issuing offers due to the power crunch constraining their capacity and Beijing discouraging exports amid nationwide output cuts....


Zihuan Pan

September 28, 2021

12:01 GMT