WEEKLY: China HRC export prices rise further after May Day holiday

Chinese export prices for hot-rolled coil (HRC) increased further during May 6-9, the week after traders returned from the five-day May Day holiday over May 1-5, as buoyant derivatives markets and firm cost support prompted mills to further raise their export offers.

On May 6, the first working day after the holiday, the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port under Mysteel's assessment had jumped by a pronounced $13/tonne from April 30 to sit at $515/t FOB, an 18-month high and in line with a Yuan