November 22, 2008

Chinese HRC export price remain stable

It is reported that export offer for Chinese hot rolled steel coil are stable this week.

As per report, domestic HRC prices have witnessed small rebound. On Shanghai market, commercial 4.75mm to 12mm HRC in 1500mm width is being quoted at CNY 5830 per tonne to CNY 5860 per tonne up by CNY 50 per tonne to CNY 60 per tonne from last Friday. That for 1800mm wide cargo remains at CNY 6200 per tonne. While commodity grade 2.75mm HRC is being tagged at CNY 6050 per tonne to CNY 6100 per tonne.

Export offers are still between USD 1050 per tonne FOB to USD 1100 per tonne FOB and prevailing transaction levels are between USD 1040 per tonne FOB to USD 1060 per tonne FOB though some are heard to be concluded at USD 1070 per tonne to USD 1080 per tonne.

(Sourced from MySteel.net)