WEEKLY: China's HRC export prices stay high, trades under pressure

Chinese export prices of hot-rolled coil (HRC) remained elevated during May 11-15, supported by still-firm costs and market optimism amid US president Donald Trump’s state visit to China over May 13-15. However, high prices continued to dampen overseas buying of Chinese hot coils, with more market players questioning whether the high prices being offered currently are sustainable.

By early last week, the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port under Mysteel's assessment had climbed to $515/t FOB, before trending slightly lower to $508/t FOB by May 15 to end the week down by a small $2/t on week. In parallel, export offers from