China's mills delay H-beam export quotations

SteelOrbis Shanghai Steelorbis Shanghai has learned that a number of Chinese mills are delaying the announcement of H-beam export quotations, with their latest export FOB prices for H-beam due to be issued on December 20. The reason for the postponement is that four Chinese steelmakers are due next week to attend discussions on quota arrangements for South Korea at Jingxi, Hubei Province. From next year, South Korea is to impose an H-beam quota of 500,000 mt a year on products from Chinese steel mills according to the latest agreement between the parties. This meeting of the mills now will arrange the distribution of this quota among Chinese exports. Also in relation to Chinese H-beam production, one of the largest Chinese H-beam producers, Shandong Province-based Shandong Rizhao Steel, has announced that its November H-beams exports accounted for half of its monthly production output.