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| TITLE |
Chinese HRC export price on upward trend |
| WRITER |
administrator |
DATE |
2009-08-12 12:00:02 |
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Chinese HRC export price on upward trend
11 Aug 2009
It is reported that Chinese domestic hot rolled steel coil prices went up sharply in the beginning of the week as mills prices hike once again underpinned the market. However, prices started to retreat largely due to the soft demand and rumors that central bank is going to slightly restrict market liquidity.
By the end of Thursday, the average price of 3.0mm HRC in major Chinese cities posted at CNY 4415 per tonne up by CNY 237 per tonne from that of last Thursday. On Shanghai market, the price of commercial 4.75mm to 12mm*1500mm HRC goes at CNY 4280 per tonne to CNY 4300 per tonne an increase of CNY 1260 per tonne from last week. That of 4.75mm to 12mm*1800mm goes at CNY 4280 per tonne up by CNY 230 per tonne from that of last week.
Export offers are continued to be pushed up by the booming domestic market. It is said the prices are possible to reach USD 600 per tonne or even above soon. The current HRC offers are prevailing at USD 540 per tonne to USD 585 per tonne. Though some transactions are heard in the market at the previous lower prices, the current prices seem difficult to be accepted by the market.
Resource from from MySteel.net |
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