Post holiday strengthening of China GI export prices

SteelOrbis understands from market sources that offer levels made by steel mills in China for 0.50 mm thick Z150 grade galvanized coil exports now range between $720-740/mt FOB. Offer levels made by re-rollers are reportedly higher than the offers of the steel mills. Galvanized coil supply decreased and prices increased in local Chinese markets as the mills have paced up their production for exports in order to benefit from the previous tax rebate rate. Meanwhile, new export offers have increased both because of the high prices in the domestic market and the 3 percent decline in the tax rebate rate.