News Room - Steel Industry

Posted on 31 Jan 2008

Export prices of Chinese HR still climbing

The export prices for hot-rolled coil in China have been consistently rising since market prices resumed, and offers have been sold at US$705~$710/ton.

Therefore, steelmakers are prepared to increase export prices to help offset the high cost of material.

Steelmakers have realized that the profit of exports is not as good as that of domestic sales (RMB60 differences). As well, the weak US dollar is another major cause.

South Korea is still considered the leading destination for the material and prices are rising in spite of the slow season due to high domestic demand and low inventory. Due to these conditions, gaps remain whereby prices will continue rising in the near future.