During the week ending May 7, Chinese export offers of flat steel products have followed a slight downtrend. At present, boron-added hot rolled coil (HRC) export offers given by Chinese suppliers are at $360-370/mt FOB, with actual transaction prices in the range of $360-365/mt, while cold rolled coil (CRC) export offers given by Chinese suppliers are at $415-435/mt FOB, with actual transaction prices in the range of $415-420/mt.
During the given week, Russian flat steel suppliers have been offering more competitive prices, resulting in reduced transaction activity for Chinese flat steel exports. As for the coming week, since iron ore prices are expected to indicate a rebound, it is thought that Chinese flat steel product export prices will likely move on a stable trend or move up slightly.