Sentiment in the China import scrap market has turned bullish after downstream steel prices rebounded on Tuesday April 13.
China’s hot-rolled coil prices tumbled on Monday April 12 amid a government call for stable commodity prices, but exporters raised their offers after a rise in trading activity last week.
China’s hot-rolled coil prices continued to fall on Friday April 9 amid futures losses, but export prices remained high due to limited supplies.
China’s domestic rebar prices dropped slightly on Wednesday on April 7 on weakening demand and futures losses.
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil strengthened significantly over the past week amid uncertainties over China’s export tax rebate for steel products.
The price of hot rolled sheet imports in Asia could exceed $ 1,000 per tonne in the coming months.
Import prices for China scrap into have continued to increase in the week to Tuesday April 6, amid strong domestic demand and regional rebounds, market sources told Fastmarkets.
China’s hot-rolled coil (HRC) prices gained further after hitting their highest since July 2008 in March, although trading activity weakened from Friday April 1, sources said.
China’s domestic rebar prices increased sharply on Tuesday April 6, reaching their highest level since August 2008 amid optimism over the prospects for demand in the coming month.
Fastmarkets is proposing amendments to the specifications of its weekly price assessment for steel billet, import, cfr China.