Prices of hot rolled coil (HRC) and heavy plate from China to South Korea have increased, according to Chinese traders, with the current HRC price at $720-730/mt CFR, up $20/mt week on week.
Some Chinese traders indicate that they have reduced their flat steel export volumes in order to make a greater profit later. Finished steel prices in China have increased, and some South Korean steel mills, such as POSCO, may also raise their prices. In this context, Chinese suppliers have also increased their flat steel prices.