June 2011 | Coated Steels
Chinese prices in decline: Asian Market Highlights
Market uncertainty in China led a volatile month for spot steel prices, but overall, substrate prices showed a smaller decline month-on-month than GDG.
Chinese company Baosteel dropped its HDG price by Rmb200/tonne ($31/tonne) in line with its cold rolled coil price declines. This also brings them more into sync with spot market prices, which are consistently much lower than Baosteel benchmark prices in the Rmb400-600/tonne ($62-93/tonne) range. Spot prices for 1mm Z90 coating stand at Rmb5,306/tonne ($820/tonne) EXW, a 7% decline from our price assessment last month. MBR understands that market uncertainty led a relatively volatile month for spot steel prices, but overall, substrate prices showed a smaller decline month-on-month. Domestic prices for commodity grade cold rolled coils fell 1% since our last report to around Rmb5,408/tonne ($836/tonne) EXW. The declines of HDG this month in China are a reflection of this. With this in mind, the declines in galvanised material...
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