WEEKLY: China's HRC export prices decline again on week

China's market for hot-rolled coil (HRC) for export continued to face tepid demand during the past week, while U.S. President Donald Trump's doubling of U.S. import duties on steel and aluminum dealt a further blow to market sentiment, according to Mysteel's weekly market roundup of the commodity. Cautious buyers generally chose to stand on the sidelines and were reluctant to purchase China-origin flat steel at high prices, the report observed.

As of June 6, China's export price for SS400 3mm HRC from North China's Tianjin port had declined by another $10/tonne on week to $445/t FOB, according to Mysteel's assessment. Trump had doubled the duties on steel and aluminum imports from most countries to 50% effective from June 4 local time, exacerbating market worries about global trade