Posted on 17 Jun 2008
Chinese HRC export price further increase
It is reported that Chinese steel makers have shot up export
offer for hot rolled steel coil again citing the robust domestic market prices.
The substantial rise in ex works price for Q3 is believed to be the major
reason for this increase.
Steel producers have been raising Q3 price successively.
Wuhan Steel lifted its HRC price by CNY 400 per tonne recently and there is an
extra of CNY 100 per tonne for thickness under 3.5mm and width above 1300mm.
As per report on Shanghai
market, price for commercial 4.75mm to 12mm thick HRC in 1500mm width has risen
to CNY 5850 per tonne to CNY 5900 per tonne and that for 1800mm width to CNY
6200 per tonne.
Most export offers for commercial 4.75mm to 12mm HRC have
exceeded USD 1000 per tonne FOB this week. A tier two steel makers in North China is offering its SS400 HRC at USD 1030 per
tonne FOB up by USD 40 per tonne to USD 50 per tonne from middle May.
