During the week ending September 26, export offer prices of hot rolled coil (HRC) from China have moved down by $5-10/mt as local demand has been insufficient and as suppliers have been trying to accelerate sales before the National Day holiday.
At present, export offers for boron-added SS400 hot rolled coil (HRC) given by Chinese mills are at $450-460/mt FOB, $5/mt below last week’s levels. “Sellers tend to sell at lower prices to ease pressure by the end of the month,” an international trader told SteelOrbis. Moreover, in deals suppliers have been ready to provide additional $5/mt discounts. As a result, some tonnages of SS400 HRC have been sold from China to Vietnam at $457-460/mt CFR, which is equivalent to $445-450/mt FOB.
During the past week, domestic HRC prices in China have decreased from the lower end and increased from the upper hand to RMB 3.620-3.730/mt ($513-526/mt) ex-warehouse, though the average price level has remained stable as compared to September 19 until today, Thursday, September 26, when local prices lost RMB 20/mt ($3/mt) compared to the previous day.
