The Chinese steel export market remains slow this week and there is almost no transactions due to the forthcoming New Year holiday and few improvements in overseas demand.
Domestic steel prices continue to rebound upwards. On the Shanghai market, commercial 4.75mm to 12mm HRC in 1500mm width was at CNY 3880 to 3920 per tonne up by CNY 60 to 80 per tonne from last Friday. The price for 4.75mm to 12mm HRC 1800mm width was at CNY 3950 per tonne up by CNY 20 per tonne week-on-week and for 2.75mm HRC the rise was by CNY 30 per tonne to CNY 4180 per tonne.
Export quotes for commercial HRC is between USD 560 to 590 per tonne FOB and most offers are between USD 560 to 570 per tonne FOB, though with very few transactions.
Sources: Steel Guru; My Steel
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