China's HRC export prices slip, sales slow

China's export HRC market remained subdued during the past week, as overseas demand for the flat product stayed weak and many buyers still held a wait-and-see stance. Inquiries have declined sharply recently, despite lower-priced export HRC quotations, an official with a steel mill from North China noted. 

During last week, the lowest tradable prices for hot coils in North China's Jingtang port had decreased to around $445/t FOB. A steelmaker in East China's Zhangjiagang cut its export HRC quotation by $5/t on week to $455/t FOB, Mysteel heard. 

In the Middle East market last week, offers for Chinese 1.2mm HRC made to Saudi Arabian buyers stayed firm on week at $525-530/t CFR, yet no deals were heard by Mysteel.  

Meanwhile, Chinese S235 and S275 hot coils were quoted at $480-485/t CFR in the United Arab Emirates, with a deal of 30,000-35,000 tonnage being concluded at $477/t CFR for July shipment. 

In Vietnam, prices for China-origin Q235 HRC slipped by about $2/t on week to $466-469/t CIF last week, according to Mysteel's tracking. 

According to the latest price revision released on June 3 by Vietnamese steel major Hoa Phat Steel Group, Hoa Phat is holding its prices for SAE1006 HRC for July domestic sales steady on month, keeping these at about $512-514/t CIF (dollar equivalent), Mysteel learned.