WEEKLY: China's HRC export prices largely steady after two-week rise

Chinese export prices for hot-rolled coil (HRC) held largely steady last week, with Mysteel assessing the export price for SS400 3mm HRC at North China’s Tianjin port on December 5 unchanged on week at $450/tonne FOB, after gaining ground for two weeks straight, Mysteel's latest market roundup showed.

During the survey week, HRC supply-demand fundamentals in China's domestic market maintained a weak balance. Meanwhile, expectations for positive policies to be rolled out at the upcoming Central Economic Work Conference in mid-December and the strengthening of Chinese Yuan against US dollar fueled market optimism, prompting some Chinese steelmakers to tentatively raise their HRC export offers