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WEEKLY: China’s steel FOB prices jump after rebates end

ABSTRACT

Chinese steel export prices continued the climb last week, following the uptrend in the domestic market and China’s cancellation of most export tax rebates on steel, Mysteel’s latest weekly report shows. However, the size of the increase varies among products, especially among items whose rebate remains and those whose rebates have been removed.
As of May 14, the transaction price of SS400 4.75mm hot-rolled coil (HRC) as assessed by Mysteel was $1,031/tonne FOB from North China’s Tianjin port, up $85/t on week or by $110/t from April 30, the last day before the rebate cancellation. Meanwhile, the export price of B500B 16-25mm rebar increased

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