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Chinese mills back from holidays with increased HRC export prices

Chinese HRC exporters are gradually returning from holidays. Some mills have already announced increases, but market insiders doubt that higher prices can be accepted anywhere. 

Only two large mills, Benxi Iron & Steel and Baotou Steel, have already started offering to Vietnam and the Middle East, Metal Expert learnt from the importers. Both producers have increased prices for SS400 HRC by $5-15/t to $390-395/t FOB. Products for re-rolling (SAE1006) with 2 mm thickness are being offered by Benxi Iron & Steel at $415/t CFR Vietnam ($400/t FOB), which is $10/t above pre-holiday quotes. 

Foreign buyers are in no hurry to accept higher prices from China, as they are sure it is just a “short-term attempt to increase offers after holidays.” The price decrease will come to the market in a week, a Vietnamese trader told Metal Expert. 

Local stockists' quotes in China are the same as two weeks ago, but traders say the only reason is absence of mills in the market. “Next week prices will increase after all mills come back,” a Chinese re-seller told Metal Expert. 
Source: metalexpert-group.com

Mar 8, 2015 10:19
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