H-beam offer from China

China's Anhui Province-based Magang Steel Group production 300-450 mm x 300-450 mm x 10 mm x 15 mm size H-beams have been offered for export to South Korea at $510-515/mt FOB Shanghai on actual weight basis via at sight payment by letter of credit for late April shipment. The quotation for such items has remained unchanged over the last two weeks. SteelOrbis has been informed that the buyer will have to accept this price level in order to maintain relations with the Chinese H-beam producer. Magang Steel recently announced that it is planning to begin H-beam production conforming to European and American standards in March. Therefore, South Korean purchasers will be anxious not to lose their supply source to other markets, as SteelOrbis has been informed.