Sharp decline in ex-China flat steel prices

SteelOrbis has learned that Chinese offers to the export markets for SS400 grade 3-12 mm x 1,500-2,000 mm boron-added hot rolled coil (HRC) have moved down by $5-10/mt since last week and are now standing at $515-520/mt FOB on actual weight basis, including nine percent export tax rebate, and for July shipments.
 
In the meantime, ex-China offers for DC01 1 mm x 1,250 mm x C cold rolled coil (CRC) have decreased by $20-25/mt since last week to $575-590/mt FOB, including 13 percent export tax rebate, on actual weight basis, for payment via letter of credit and for July shipment.
 
SteelOrbis has further learned that Chinese offers to the export markets for DX51D 0.8-1.0 mm x 1,219 mm 120 gr/m² zinc coated hot dip galvanized (HDG) coils are at $620-650/mt FOB, decreasing by $20-40/mt over the same period, including 13 percent export tax rebate, on actual weight basis, for payment via letter of credit and for July shipments.