December 03, 2008

Chinese CR export prices to increase further

It is reported that export price for Chinese cold rolled steel coil is going to see another jump in the coming weeks. There is strong likelihood that export offers would increase by additional USD 50 per tonne to USD 70 per tonne in April or May 2008.

On Shanghai market, 1.0mm CR sheet by Anshan Steel is being quoted at CNY 6530 per tonne, 1.2mm to 2.0mm CR sheet at CNY 6400 per tonne. 1.0mm CR coil by Maanshan Steel goes at CNY 6350 to CNY 6380 per tonne.

As per report, expected increase in Chinese domestic market prices and the robust overseas demand are believed to be the major driver for the further rise in export quotations.

(Sourced from MySteel.net)