WEEKLY: China’s steel FOB prices stable after declines
Nov 05, 2019 17:00
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The continuous decline in China’s steel export prices over the past few weeks took a pause over October 26-November 1, with Mysteel’s B500B rebar export price averaging $455/tonne FOB Shanghai port, flat from the prior week, while the export price for SS400 4.75mm hot-rolled coil (HRC) was unchanged at $440/t FOB Bayuquan in Northeast China’s Liaoning province.
“The temporary stop in the export prices of major steel products was mainly because of reduced export supply from Chinese steel mills,” commented a market watcher based in South China’s Guangdong province.
“Recently, the global steel market showed signs of recovery, though demand from the ASEAN region, the main destination for