HRC offers from China

SteelOrbis has recently learnt that mills in China are offering hot rolled coil with high price for July shipment as the said new rebate policy date is approaching. It is believed that the mills will lose around $30/mt in case the government announces the new policy in early June. Therefore, mills' current offer prices also cover the possible rebate lost, which means the buyers will take the risks themselves. SteelOrbis heard that those Chinese mills with CSP line are offering hot rolled coil to South Korea at around $535/mt CFR, and those which are manufacturing hot rolled coil at integrated lines are offering at $545/mt CFR S.Korea from middle China. Meanwhile a Chinese trader is offering hot rolled coil at $560/mt FOB Northeast China for European buyers. All prices are on actual basis and via at sight payment by letter of credit.