Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil increased over the past week due to the limitations imposed on steelmakers' output in September and October being expected to provide support for prices, sources said.
More than 30 mills in China's steelmaking hub of Tangshan were instructed to reduce sintering and blast furnace operations by up to 50% between September 1 and October 4.The production curbs were imposed ahead of celebrations to mark China's 70th National Day on October 1, when the nationwide holiday known as Golden Week will start and last till October 7. Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled coil export, fob China was $505-510 per tonne on Tuesday September 3, narrowing upward by $5 per tonne from a week earlier.A cargo of the assessed...