Chinese HRC export price drop further to reach USD 900 FOB - 20 Aug, 2008
It is reported that there is almost no transaction of HRC exports from China since there is few overseas takers at moment. Buyers are just checking prices and they are not likely to imports when prices are still diving.
As expected, domestic HRC prices are still on the decrease. On Shanghai market, commercial 4.75mm to 12mm*1500mm HRC goes at CNY 5200 per tonne to CNY 5230 per tonne down by CNY 100 per tonne to CNY 120 per tonne from last Tuesday. There is an extra of CNY 200 per tonne for 1800 wide products. That for commodity grade 2.75mm HRC went down by CNY 100 per tonne to CNY 6080 per tonne.
Export offers for Q235 or SS400 grade 4.75mm to 12mm HRC have slipped to USD 910 per tonne to USD 930 per tonne FOB and transaction prices are said to be as low as USD 890 per tonne to USD 910 per tonne FOB. Tier one steel mills have also lowered prices to USD 940 per tonne to USD 950 per tonne FOB.
