Chinese mills have been raising offer levels recently getting a scent of the upcoming times as the two main handicaps of Greek debt crisis and poor buying has abated marginally.
As the warm season unfolds the mills are bumpier about demand generation as much of the Europe has been hibernating for the entire 2011 leading to low inventory levels.
Hike in domestic HRC and rebar prices have up the ante on exporters. Japanese, Korean and Thailand mills are mulling revising April booking prices by another USD 20-30 per tonne spurring the Chinese offers as well.
Concurrently the economy and credit market in Europe and US continues to be suspect with the economy oscillating between hope and desperation.
Until the economy attains sustainable stability the cloud of uncertainty would not dispel keeping the market in limbo.
Main port China
Change is on Mar 2nd as compared to 24th February 2012
In USD per tonne
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Source - Steel Prices China