Mills worldwide hold tenders for stock sales into China

Mills worldwide hold tenders for stock sales into China

Due to the high prices of steel in China, all the producers worldwide are in a move to clean up their stocks by holding sales tenders. It appears that they benefit as they can get a price similar to domestic for prime quality for their stock and by that means the Chinese can get some cheaper material to bring down average of over inflated prices at home. The following recent bookings provide evidence in this respect. Ispat Annaba has just concluded 25'000 mt of various stock to China for March shipment. Parcel includes cobbles, HRC, CRC and HDG declassified products. CSN has just concluded a 25'000mt tender of second quality and overrollings and has already issued a second one due on February 17, 2003. EZDK has entered the market with another stock lot from EFS. Cosipa concluded a tender of stock slabs to Burwil for China last week.