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Bookings for boron-containing, small and medium-sized H-beam exports were in the range $570-580 per tonne fob for late February shipment, up from $560-565 per tonne last week.
Base export offers for H-beam stood at $580-590 per tonne fob, unchanged for the last two weeks. Steelmakers have not released quotations for March shipment yet.
“Export prices have been higher with more business concluded. We have been fully booked for February shipment” an export director with Shandong Steel said.
Limited allocations for overseas sales for that month may also have helped push up prices, she added.
Another major producer in east China also witnessed the price increase.
“There has been an increase in buying activity, so we just sell to those who bid higher,” an exporter with the producer said.
The steelmaker will not announce offers for March shipment until early next month, he noted.
China’s domestic H-beam prices also increased this week.
In Shanghai, 200x200mm H-beam was changing hands at 3,650-3,730 yuan ($578-591) per tonne on Thursday December 27, up 10 yuan from Thursday or 20 yuan higher than a week earlier.