SteelOrbis has been informed that a trader in
China is offering SPCC grade cold rolled coils of 1.0 mm x 1,250 mm specifications at the levels of $540-550/mt FOB
China for April shipments. A thirteen percent export rebate is in effect for such products. Since the export rebate for
CRC,
galvanized coil and pre-painted coil has been raised from five percent to thirteen percent, Chinese export offers for these products have registered a downtrend. It is said that some second tier mills in
China offered the same material at $530/mt FOB in the past week - a level estimated by market players which counted in the thirteen percent export rebate, though the official announcement was only made on Friday, March 27.