WEEKLY: China's HRC export prices increase on week

China’s export price of SS400 3mm hot-rolled coil (HRC) under Mysteel’s assessment at North China's Tianjin port rose during January 12-16 by $5/tonne to sit at $460/t FOB by last Friday, Mysteel's latest market roundup showed.

The price rise was attributed mainly to cost support from firm raw materials prices and a sentiment-driven rally in HRC futures on the Shanghai Futures Exchange (SHFE). On January 16, the most traded HRC contract for May delivery on the SHFE closed the daytime trading session at Yuan 3,315/t ($476/t),