WEEKLY: China HRC export prices rise further to touch 1.5-year high

Chinese export prices for hot-rolled coil (HRC) rose further during April 20-24, approaching a 1.5-year high. However, elevated prices dampened overseas appetite for Chinese HRCs, with buyers largely remaining on the sidelines and watching the latest price movements, Mysteel Global noted.

After rising for more than a week, on April 24, the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port under Mysteel's assessment stood at $500/tonne FOB, jumping $12/t on week. The increase was in line with a Yuan 47/tonne ($7/t) rise in China's domestic hot coil prices, driven