WEEKLY: China HRC export prices decline for 3rd week

China’s export prices for hot-rolled coil (HRC) softened during the June 29-July 3 week, as Chinese mills tentatively lowered their export offers to stimulate overseas buying activity amid the summer doldrums. However, interest in China-origin coils remained muted, with demand in major overseas markets such as Vietnam staying subdued.

On July 3, Mysteel assessed the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port at $490/tonne FOB, lower by $5/t on week and marking the third week that Chinese HRC export prices have declined. Hot coil offers from China's privately-owned steelmakers dipped by $3-5/t on week to $485-487/t FOB around mid-week,