November 2011 | Coated Steels
Chinese material has the upper hand, but for how long?: Asian Market Highlights
Chinese mills have positioned themselves favourably in the market and are likely to be immune from price shocks.
Chinese steel markets are rather unique in the fact that the domestic mills have positioned themselves far below the market and are therefore somewhat immune from price shocks in the market. With hot dipped galvanised export prices currently positioned around the $880-900/tonne mark, sourced in Korea, CIS, India and Japan, however, China are pricing them all out of the market by offering HDG material at $780/tonne. This has attracted the attention of the International Trade Commission (ITC), in which they will be investigating pricing mechanisms in order to assess whether China are operating below a fair market value.
The market has already seen measures taken by the ITC with regard to unfair trade policies. Last year, galvanised steel wire was determined to...
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