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Home > News > Industry Activities > During the first seven months of this year, China exported 12.62 billion US dollars worth of automobiles and parts, an i

During the first seven months of this year, China exported 12.62 billion US dollars worth of automobiles and parts, an i

By , 2008-03-08 12:00:00

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Chinese steel export prices continue to witness downward adjustments on concern the probable increase in export tariff rate would further dampen steel exports, which in turn would direct more cargo back to domestic markets. Export market is quiet since most steel makers and traders employ wary attitude in face of policy and market risk.

Chinese HRC prices continue to go down amid rumor of imminent increase in export tariff rate. Commercial 4.5 mm to 11.5mm*1500mm HRC are being offered at CNY 4080 per tonnes, down by CNY 130 per tonnes, 1800mm material at CNY 4450 per tonnes to CNY 4520 per tonnes. 2.75mm HRC remain at CNY 300 per tonnes a decrease of CNY 80 per tonnes to CNY 100 per tonnes.

After rebounding to CNY 5100 per tonnes from CNY 4800 per tonnes, prices for 1.0 HDG by Anshan Steel which is regarded as base are now slipping down. In Shanghai, 1.0mm HDG drop by CNY 20 per tonnes to CNY 5080 per tonnes; quotations for 0.5mm HDG by private steel mills go down by CNY 20 per tonnes to CNY 30 per tonnes to CNY 5550 per tonnes to CNY 55570 per tonnes. HDG is expected to follow the downward adjustments of HRC and CRC.

HR plate
Export offers for hot rolled steel plate offers are still on the rise in China, bolstered by robust overseas demand and firm domestic market prices. Among others, ship plate and high end plates enjoy much higher prices and they are actually the export engines.

Most tier two steel makers have raised offers for SS400/Q235 HR plate to USD 710 per tonnes to USD 730 per tonnes FOB and up in line with domestic market. But the rise has led to fewer transactions at moment. A North China based steel mill is quoting S275JR plate at USD 720 per tonnes FOB base and S335JR USD 735 per tonnes FOB base, early November shipment. The offer require equal share of the possible increase in export tariff rate. Another neighboring steel maker, who mainly produces high value added plates, is quoting at USD 20 per ton higher for the same products and also ask buyers to born all the loss if there is policy change. Traders attribute its high price to its small output of commodity grade plate.

Long products
Rebar and wire rod prices continue their downward adjustments in Chinese domestic market. In Shanghai, HRB335 20mm rebar is being offered at CNY 3840 per tonnes to CNY 3850 per tonnes, HRB400 material at CNY 4020 per tonnes down by CNY 30 per tonnes to CNY 40 per tonnes. Wire rod has also dropped to CNY 3850 per tonnes to CNY 3870 per tonnes.

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