WEEKLY: China's HRC export prices rise higher, but freight rates hurt trades

Chinese export prices for commercial-grade hot-rolled coils (HRC) rose further during the week of March 23-27 to reach a 14-month high. However, overseas buying of Chinese coils was hampered by the spike in ocean freight rates, Mysteel Global learned.

On March 27, Mysteel assessed the export price of SS400 3mm HRC at North China's Tianjin port at $486/tonne FOB, up by another $2/t on week and marking a new high since January 27 last year. Meanwhile, the recent pickup in domestic demand caused the mills to firm their pricing stance last week, with hot coil