Influenced by reduced domestic market prices and the weak demand in the international market, China's export prices of HRC have remained at a low level this week. Currently, mainstream SS400 3-12 mm x 1,500-2,000 mm boron-added hot rolled coil (HRC) offers given from China to the export markets are standing in the price range of $600/mt FOB, including the 13 percent export tax rebate, on actual weight basis, for payments via letter of credit and for November shipments.
Meanwhile, it has been heard that the prices given by international buyers are all below this level, and so most domestic traders face transaction difficulties. In recent days, on the back of increased interest rates and rising inventory, China's domestic HRC prices have dropped significantly, with prices of common HRC standing at RMB 5,180/mt ($779/mt), down by RMB 60/mt ($9/mt) over early this week.