Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil edged higher this past week on continued support from firmer domestic prices.
Cold-rolled coil***
Fastmarkets’ weekly price assessment for steel cold-rolled coil export, fob China was $505-515 per tonne on Tuesday July 21, up by $5-10 per tonne from $500-505 per tonne a week earlier.
Chinese mills had raised their CRC offers to $530 per tonne fob, up by $10 per tonne week on week.
Traders had concluded volumes at $505 per tonne fob China in the past week, while others said steel mills would unlikely release any volumes below $510-515 per tonne fob China.
There were limited bids heard, with buyers hesitant to increase their bids significantly due to their own weakened domestic markets.
Competing supply from South Korea was offered at $520 per tonne fob, up by $10 per tonne week on week, tracking regional increases.
On Tuesday, Liaoning-based Benxi Iron & Steel released its export offer at $530 per tonne fob for September-shipment CRC for this week, up by $20 per tonne from the previous week.
Fastmarkets’ weekly domestic price assessment for CRC delivered to eastern China was 4,250-4,270 yuan ($608-611) per tonne last Friday, up by 50-60 yuan per tonne from 4,190-4,220 yuan per tonne a week earlier.
Hot-dipped galvanized coil***
Fastmarkets’ weekly price assessment for steel galvanized coil 1mm export, fob China was $570-575 per tonne on Tuesday, increasing by $5-10 per tonne from $560-570 per tonne a week earlier.
Offers for 1mm base HDG with 120g zinc coating from major Chinese steel mills were at $590 per tonne fob during the week, up by $15-20 per tonne week on week. Traders said steel mills would only sell volumes at $570-575 per tonne fob.
Vietnamese re-rollers sold 1mm HDG with 80g zinc coating at $590 per tonne fob this week, up by $10 per tonne week on week.
South Korean 1mm base HDG with 180g zinc coating was offered at around $620 per tonne fob during the week, up by $10 per tonne from the previous week.
On Tuesday, Benxi Steel increased its offer for zero-spangle, 80g zinc-coated HDG for this week to $590 per tonne fob for September shipments, up by $15 per tonne week on week.
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