WEEKLY: China's HRC export prices climb further on week

Chinese export prices for hot-rolled coil (HRC) strengthened further over November 22-28, with Mysteel assessing the export price for SS400 3mm HRC at North China’s Tianjin port on November 28 at $450/tonne FOB, higher by $5/t on week, Mysteel's latest market roundup showed.

During the survey week, the domestic steel market was buoyed by the phone conversation Chinese president Xi Jinping had with US President Donald Trump on November 24 which helped ease bilateral tension, and news that the US Federal Reserve is more likely to cut interest rates this month, both