WEEKLY: China's HRC export prices bottom out

News last week that US President Donald Trump might be walking back some of his tariff decisions led Chinese prices of hot-rolled coil (HRC) for export to bottom out after their two-week slide, Mysteel's weekly market roundup shows, while overseas transactions for the China-origin flat steel remained tepid.

After declining for two consecutive weeks, by April 25 the Chinese export price of SS400 3mm HRC under Mysteel's assessment firmed on week at $457/tonne on FOB basis from North China's Tianjin port. Sentiment in global commodities markets, including China's HRC export market, improved slightly after the U.S. shifted its tone