WEEKLY: China's HRC export prices soften further

Chinese export prices for commercial-grade hot-rolled coils (HRC) stayed weak during October 18-24 as downbeat market sentiment and high stockpiles at steel mills continued to weigh on the flat steel’s export prices, while overseas buying of China-origin coils remained tepid amid slow overseas demand, Mysteel's latest market roundup shows.

Earlier in the survey week, uncertainties over the macro environment, as well as persistently elevated HRC stocks at mills, prompted some to lower their overseas offers for coils at $460/tonne, down by $15/t on week. Mainstream offering prices from Chinese mills for hot coils stayed around $475/t FOB, with