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....