WEEKLY: China steel FOB offers surge, trade stays poor
May 27, 2020 08:50
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Major Chinese steel producers hiked export offer prices by $20-25/tonne for all kinds of steel products over May 16-22, Mysteel’s latest survey showed. The mills were counting on support from strengthening domestic and global steel prices, but actual sales remained poor, survey respondents remarked.
“The supplier mill abruptly raised its price by $25/t, while my (overseas) clients are still waiting for prices to drop, (so) now the price gap between suppliers’ offers and buyers’ expectations continues to broaden,” a steel trader based in Hangzhou city, East China’s Zhejiang province observed.
She also noted that the