On July 11, SteelOrbis reported ex-China offers on flat steel as HRC at $500-505/mt CFR, CRC at $520-535/mt CFR, and HDG at $625-640/mt CFR.
According to sources, prices have inched up further and are now being heard for HRC at $515-520/mt CFR, CRC at $535-555/mt CFR, and HDG at $635-655/mt CFR.
The HRC prices reflect an increase of $15/mt. CRC offers have increased $15/mt from the bottom of the previous range and $20/mt from the top of the previous range. HDG offers have increased by $10/mt from the bottom of the previous range and $15/mt from the top of the previous range.
While the uptrend of Chinese flat steel products is evident globally, a source noted the concern of Chinese prices for September shipments possibly not being sustainable given June’s record-breaking crude steel production reports in China, AD investigations and duties in various countries that may limit China’s exports, and the potential for sudden fluctuations in its domestic futures market. Given the summer lull, a source noted that some buyers are remaining on the sidelines on market uncertainty.