October 12, 2008

Chinese HDG export offers witness further increase

It is reported that export offers for hot dipped galvanized coil price are up again though domestic market prices are largely unchanged this week.

On Shanghai market, 1.0mm HDG by Anshan Steel is being quoted at CNY 6400 per tonne, 0.5mm by private producers at CNY 6700 per tonne, flat with last week. It is also the case with prices in Shandong's Boxing market, where 0.5mm remains at CNY 6350 per tonne, 1.0mm HDG remains at CNY 6050 per tonne.

Export offer for 1.0mm HDG is still at USD 980 per tonne FOB up by USD 20 per tonne. Most traders say that there is little allocation for exports even at higher prices. The transactions are believed to be fairly good and some tier one steel makers have not setting the price for June shipment until end March or early April.

(Sourced from MySteel.net)