During the week ending April 23, Chinese export offers of flat steel products have continued their downtrend. At present, boron-added hot rolled coil (HRC) export offers given by Chinese suppliers are at $365-375/mt FOB, with actual transaction prices in the range of $360-365/mt, while cold rolled coil (CRC) export offers given by Chinese suppliers are at $415-435/mt FOB.
The soft trend of ex-China flat steel export offers has mainly been due to the recent slack demand from overseas market and declines seen in domestic HRC and CRC prices. In order to gain orders from overseas market, Chinese steelmakers have lowered their offer prices, while this move has failed to attract more buyers. It is thought that Chinese HRC and CRC export prices will likely move on a stable trend in the coming week.