WEEKLY: China's HRC export prices slide on week

Chinese export prices for commercial-grade hot-rolled coils (HRC) slipped during September 20-26, while overseas buying of China-origin coils came under more pressure amid intensifying trade protectionism, Mysteel's weekly market roundup shows.

Earlier in the survey week, offering prices from some Chinese mills were holding steady from their September 19 level at $485/tonne FOB China, with the tradable price sitting at around $475-480/t FOB, the report notes. By mid-week, softening domestic HRC futures on the Shanghai bourse, as well as rising pressure from inventory overhang at