China's hot rolled coil (HRC) export prices experienced a slight recovery last week, driven by improving market conditions supported by favorable macroeconomic developments. However, export transactions for flat products remained limited.
As of September 20, SS400 4.75mm HRC export prices from the northern China port of Tianjin rose by USD 4 per ton from the previous week to USD 462 FOB. The market, which was sluggish at the beginning of the week due to the Mid-Autumn Festival holiday on September 15-17, showed some recovery with this increase.
Positive economic developments in the post-holiday period, such as the long-anticipated rate cut from the US Federal Reserve and China's commitment to increase policy support, have boosted activity in China's HRC export market. With these developments, SS400 3mm HRC export prices rose to the range of USD 457-465 FOB over the weekend.
Despite the increase in prices, the overall sluggishness in China’s HRC export market continued. Market participants are cautious that weak demand for HRC could continue to drive price increases.
On the other hand, SPCC 1.0mm cold rolled coil (CRC) export prices fell by USD 4 per ton last week to USD 534 FOB Tianjin, reflecting the ongoing difficulties in the market.
Comments
No comment yet.