The different strategies of hot-rolled coil exporters in China emerged on Thursday March 4 amid retreating prices in the country's domestic market, sources told Fastmarkets.
Domestic
Eastern China (Shanghai): 4,950-4,980 yuan ($765-770) per tonne, down 30-50 yuan per tonne
A Shanghai-based trader said trading activity on Thursday weakened after the futures market retreated during the morning session.
While transactions were concluded at the assessed range, most of these were done on the lower end, he said.
A Tianjin-based trader noted that prices for other commodities such as cobalt had plunged on Thursday and expressed concern over the pessimism spilling over into the ferrous markets in the next few days.
Export
Fastmarkets' steel hot-rolled coil index...