China HR coil export prices to S.Korea had great gap

Published: 31 Mar 2009 01:08:21 PST

Mar.31 MetalBiz--China steel mills had pointed out that the hot-rolled coil(HR) export price to S.Korea ranged $400per ton from $500per ton in recent. Because the domestic HR coil inventory was very large at the moment, most steel mills reflected the export rebate adjustment range in advance. A northern steel mill quoted about $450per ton due to the existing inventory and other steel mills' quotation was $510-520per ton.

Market predicted Chinese quotation would continue sinking, so buyers did not purchase products and just wait-and- see. On Mar.20, the export price to S.Korea was $490per ton (FOB) in general, $495per ton to Southeast Aisa and the price to Europe was $500per ton.