Export offers for Chinese cold-rolled coil and hot-dipped galvanized coil continued to rise over the past week despite thin trading, with the strengthening domestic market in China encouraging mills to ask for higher prices.
Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $547-558 per tonne fob on Tuesday March 5, up $2-3 per tonne from $545-555 per tonne fob a week earlier.Deals for CRC were said to have been concluded around $550 per tonne fob last week."Trading activity has slowed down [for CRC and HDG] in the past few days because buyers could not keep up with the continual price increases from China," a Hangzhou-based trader said on Tuesday.Chinese mills...