China’s CRC, HDG export prices decline before Golden Week

  • Wednesday, September 25, 2019
  • Source:ferro-alloys.com

  • Keywords:China, CRC, HDG, export price, Golden Week
[Fellow]The lackluster demand for steel in foreign markets is likely to weigh on prices after the holiday.
[Ferro-Alloys.comExport prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell over the week to September 24 amid limited negotiations ahead of the October 1-7 Golden Week holiday in China.

The lackluster demand for steel in foreign markets is likely to weigh on prices after the holiday, market sources said. Trading activity has slowed down in the latest pricing week because of market participants' bearish sentiment, a trader in Beijing said. Unless the Chinese government continues to impose environmental pollution measures and restricts steel production, it is difficult to find reasons that would provide support for prices after the holiday, a trader in Shanghai said. Local authorities of various districts in northern China’s steelmaking hub of Tangshan have ordered steelmakers to suspend their operations or restrict blast furnace operation... (Metalbulletin)

 

  • [Editor:kangmingfei]

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