12
Mar
13:18
GCC buyers cut HRC bids after China slump
Gulf Cooperation Council buyers have reduced their hot rolled coil bids after ex-China tier-two mills cut prices to $555-560/tonne cfr for April shipment, equivalent to $525-530/t fob China.
Tier-one mills are holding at $590-595/t cfr GCC for 3mm pipe-making grades (SS400, S235JR) for May shipment. Chinese tier-one mills are welcoming any bids from serious buyers to negotiate, notes Kallanish.
The market is however quiet, which is typical of Ramadan, and due to …
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Anonymous
Very good overview of the weekly steel market.
Anonymous