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WEEKLY: China steel FOB prices slump on falling demand

Chinese steel export prices slumped over the week March 21-27 as global demand decreased significantly with the deadly COVID-19 continuing to decimate global economies, export market sources maintained on Tuesday.
“(Steel) export prices for both spot sales and forward contracts are dropping quickly, almost every day, mainly due to the impact of COVID-19,” a Hong Kong-based steel exporter told Mysteel Global. Over March 21-27, Mysteel’s export benchmark price of SS400 4.75mm hot-rolled coil (HRC) fell by a total of $25/tonne to

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