WEEKLY: China's HRC export prices retreat

Chinese export prices of hot-rolled coil (HRC) edged down during May 25-29, amid growing market resistance abroad towards high-priced cargoes and disruptions caused by the re-appearance of ‘non-VAT’ coils, Mysteel Global learned.

On May 29, Mysteel assessed the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port at $505/tonne FOB, easing by $3/t on week. Export offers from Chinese mills also softened to $500/t FOB China in the latter half of last week from $510/t FOB at the start of the