Chinese steelmakers push HRC export offers up for November shipment

Chinese steelmakers have raised export offers for hot rolled coil for November shipment to reflect the improvement in the domestic market.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Export offers for commercial-grade, boron-containing HRC are at $510-520 per tonne fob for November shipment, up $10 per tonne from those for October shipment.

But it remains to be seen whether the new prices will be accepted as there has been few transactions so far.

“It is not easy to get orders at the updated prices as we are facing the competitive low offers from South Korean steelmakers,” a trader in Shanghai said.

One Korean steel mill is even quoting $520 per tonne fob for thin gauge HRC, which Chinese steelmakers generally charge $10-20 per tonne higher, she added.

Another exporter also pointed out that overseas buyers remain cautious about the purchase of Chinese cargoes higher prices.

“Some overseas customers prefer to buy at $500 per tonne fob or a little lower,” the exporter said.

He will watch the market for clues before booking material from steelmakers at the new prices.

What to read next
The outlook for North American steel scrap prices has headed further into bearish territory ahead of June’s trade, with prices for all grades expected to fall again after a round of across-the-board decreases in May
Fastmarkets is inviting feedback on a change of publishing time for our ferro-chrome price in the Chinese domestic market as well as ferro-chrome import prices in Japan and South Korea, to 5-6pm Shanghai time from 2-3pm London time.
Fastmarkets is inviting feedback on a proposal change the publishing time for our silico-manganese, ferro-manganese and manganese ore port prices in China, to 5-6pm Shanghai time from 2-3pm London time.
The publication of Fastmarkets copper concentrates TC index, cif Asia Pacific was delayed on Friday March 26, due to a reporter error.
After a month-long consultation period, Fastmarkets has refined the delivery terms for its international nickel sulfate price assessments, with Japan and Korea now the only accepted locations.
After an extended consultation period, Fastmarkets has amended the specified brands in its cobalt standard grade and cobalt alloy grade price assessments.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.