WEEKLY: China steel export prices soar on rebate concerns

China’s steel export prices especially for carbon steel flats, the country’s top products for exports, gained another $15/tonne on week, in response to the possible cuts on tax rebates and global flat steel price strengthening, though both offers from the Chinese traders and bid from overseas appeared slack recently amid the uncertainties, Mysteel Global learnt from market sources.

As of March 23, China’s export prices of carbon steel flats including hot-rolled coil (HRC), cold-rolled coil (CRC), galvanized steel and, medium plate all increased further by $15/tonne on week, with SS400 4.75mm HRC now transacted at $753/t FOB and that of SPCC 1mm CRC at $825/t, both from the Tianjin port,