It is reported that due to the still weakening steel demand abroad, Chinese steel imports & exports are ina downwards trend level and only a few transactions have been closed.
Taking HRC as a benchmark, import price averages at some USD 370 to 380 per tonne and export prices post at USD 470 to 480 per tonne. Although the price is becoming lower , importers continue to take a wait-and-see attitude on poor demand.
The same applies to medium plate. One Chinese steel trader says that his organisation received only three export orders totalling 2000 to 3000 tonnes for March with no orders as yet for April.
Another exporter said the situation is the same for steel sections with only 1000 tonnes being exported to South East Asia, Africa, and South Korea in March and at a low price. Some exporters hold an attitude that they can do a deal at a relatively low price if overseas importers make a bid as the real problem right now is soft demand.
Source: Steel Guru
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