According to a reporter from Mysteel, there are some export quotations right now yet with nearly no transaction closed for both Chinese steel traders and producers.

In such circumstance, steelmakers would prefer to directly negotiate with overseas importers rather than through traders. Therefore, some steelmakers even cut their ex work price below USD 370 per tonne for HRC to South Korea.

As for ship plates, cases are the same. A certain Chinese steelmaker is reported to have signed a ship plate supply agreement with Hyundai Heavy Industries for this Q2 with a price of USD 450 FOB. However, due to still high inventory and delayed delivery time, ship building enterprises are not so eager to place any other new orders.

The price negotiation between Japanese mills and South Korean ship building companies has also become relatively difficult so far attributing to the limited purchase volume by South Korea.

(Sourced from.Mysteel.net)
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