Posted on 23 Sep 2008
Asia's hot-rolled coils prices reach bottom
Asia’s export prices of hot-rolled coils are reported to reach the bottom, though prices keep falling at present.
In the long term, China’s export prices to Korea in the fourth quarter still shake greatly. Prices on the whole keep at FOB US$900/ton, but actual dealing prices are set at FOB US$800/ton, a US$200/ton decrease compared with that of the third quarter.
If export prices of hot rolled coils to Korea are made lower than domestic prices, it will be profitless. And the domestic market’s persistent weakening shows that prices are on the verge of the bottom. Besides, China’s mills are said to bring down the further price slide and export demand for high-class hot rolled coil still remain high.
