WEEKLY: China's HRC export prices dip further

China's export prices for carbon steel hot-rolled coil (HRC) edged down for the fourth consecutive week during October 12-16, with Mysteel assessing the export price of SS400 3mm commercial-grade HRC at North China's Tianjin port lower by another $3/tonne on week at $492/t FOB as of October 16.

Softening raw material prices, especially those of iron ore and coking coal, as well as dull demand from overseas buyers were to blame for the decline, market sources suggested. Over the past week, export offers for HRC from mainstream Chinese state-owned mills were heard in the range of $495-505/t FOB China, while those from