October 16, 2008

Chinese HDG export price remain stable

It is reported that HDG coil price keep stable in Chinese domestic market and this is also the case with export quotations.

Export offer for 1.0mm HDG is still at USD 950 per tonne to USD 960 per tonne FOB up, flat with last week. The export tonnages have seen evident increase than last two months. Wuhan Steel has been fully booked for June and July shipments and average base price is at USD 955 per tonne FOB.

The upward trend is going to continue in the next two months. Today Baosteel has announced to advance its ex works price for HDG by CNY 300 per tonne, CRC by CNY 400 per tonne and re rolling grade HRC by CNY 300 per tonne for May shipments.

Mysteel said Chinese domestic HDG prices would be stimulated to go up again and the export offers would follow step soon.

(Sourced from MySteel.net)