SteelOrbis has been informed that SS400 3-12 mm x 1,500 mm boron-added hot rolled coil (HRC) offers given from China to the South Korean market are currently standing at $615/mt CFR, including 13 percent export tax rebate, on actual weight basis, for payments via letter of credit and for November shipment.
The current Chinese hot rolled coil market is characterized by weakness. Quotations of common HRC in the Shanghai market as of October 26 stand at around RMB 4,200/mt ($631/mt). Meanwhile, export prices of boron-added HRC from Chinese mills are lower than domestic market prices.
$1 = RMB 6.662