Chinese export levels hit roadblock in absence of demand- 09 Dec 10

The export levels remained unchanged already having attained absurdity last week with no takers for hyped offers. In the face of stiff competition from Taiwanese and Korean mills at USD 620 per tonne to USD 630 per tonne FOB they are unable to make headway.
Chinese mills are giving uncompetitive-price offers of USD 630 per tonne FOB for SS400B 3mm to 12mm HRC. With transactions usually taking place at USD 610 per tonne to USD 620 per tonne FOB the levels are unworkable.
The prevailing export price is at USD 605-630 per tonne FOB.
Rebar and Wire rod
Chinese rebar offers were uncompetitive. Offers for Chinese material are for 16mm to 32mm diameter whereas those for other origins are for 10mm to 32mm. There is buying interest but bids were aplenty at USD 620 per tonne to USD 625 per tonne CFR. Whereas Chinese levels offers at USD 630 per tonne to USD 650 per tonne FOB was barely having any takers.
In sync with the ameliorated levels from CIS and Black Sea sources by USD 20 per tonne, the price levels improved touching USD 630 per tonne to USD 650 per tonne FOB

Dec 9, 2010 09:41
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