Last week, as China and Russia HRC prices lower, while the United States is considering an anti-dumping investigation of imported sheet, the steel material which intended to export to US now turn to export to europe market, further increase the market pressure. The European hot rolled coil import offers remain under pressure, currently quoted at 345-350 euros / ton (CIF, Antwerp). Among them, China's resources quoted at 345 euros / tonne (CIF, Antwerp), the Russian resources quoted at 350 euros / tonne (CIF, Antwerp).

Imported countries market pressure increasing is not good news for China’s weak steel market, although European local HRC price keep steady for three continuous week, the mills believe that the price of local material would down along with imported material, it’s difficult to keep the price remain. Currently, the Ruhr HRC ex-works price is 382.5 euros / tonne, remained stable.

                                                            XINSTEEL NEWS