CHINA HRC: Mixed moves in export market as rebate uncertainty persists

China's hot-rolled coil prices rallied on Tuesday April 13 following gains in the futures market, but export offers from mills were mixed due to the lingering uncertainty surrounding a reduction in the export rebate.

Domestic
Eastern China (Shanghai): 5,410-5,500 yuan ($826-840) per tonne, up 60-110 yuan per tonne
A Shanghai-based trader said spot sellers there were offered 5,410-5,430 yuan per tonne in the morning, but deals at 5,490-5,500 yuan per tonne could be won in the afternoon following a rebound in the futures market.

A second Shanghai-based trader said downstream demand remains robust, especially because end users were in a rush to restock in fear of further price...

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