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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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October 2019 | Steel Forecaster


Competition in Southeast Asia puts pressure on Chinese exporters: International Flat Product Market Analysis


In order to remain competitive in the southeast Asian market, Chinese exporters were forced to lower their offers, with the export HRC index dropping to $433 per tonne on October 18.

Chinese domestic HRC prices continued their downtrend after the market returned from the Golden Week holiday at the beginning of October. The Eastern China HRC assessment closed last week at 3,500 yuan ($493) per tonne, the lowest level since June 2017. The latest data has shown that end-user demand picked up in September, with month-on-month rises in white goods and motor vehicle output, supporting a decline in stocks at warehouses last month. But as steel production continued to rise at faster rates than demand, HRC inventories started to increase again in October, remaining at the highest level for this time of the...

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