Chinese HR exports to remain good in April

SteelOrbis Shanghai Sources report that China's hot rolled product export condition in April will remain good. Wuhan Steel's April export contract totals around 110,000 metric tons. Baotou Steel has completed the delivery of one third of its March export contract of 70,000 metric tons, and in April it plans to export 40,000 metric tons of hot rolled products. Shagang has 290,000 metric tons of normal monthly output. It signed an export contract of 40,000 metric tons of HR products for April shipments. Offers by traders in Shanghai and Tianjin are at $440-450/mt FOB, while those by steelmakers are at $420-435/mt FOB. Additionally, last week, the sluggish business activity of domestic hot rolled products caused the market prices to go down. Some of the imported hot rolled coil products are being exported at $420/mt (delivered to warehouse in free trade zone) to South Korea.