July 2011 | Coated Steels
Chinese export offers stabilise: Asian Market Highlights
Chinese export prices have seen small falls.
Chinese export prices have seen small falls this month thus far, very much as MBR had expected. This takes our assessment for 1mm HDG to $840/tonne EXM. There have been transactions heard at even lower prices of around $820/tonne ex mill, but these have been thin on the ground we understand.
Data for the month of May seems to indicate that HDG sheet production levels were at near record highs, only 25,000 tonnes off from the highest levels reported in March this year of nearly 2.679 million tonnes. Much of this is not being absorbed by the domestic market, as indicated by export levels of over 532,000...
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