Reportedly, the Chinese traders may cut the export quotes of hot rolled coils (HRC) by US$10~US$15/ton due to weak demand, according to market insiders.
Traders indicated that the Chinese steel domestic prices started to rise since September, pushing up the export prices.
It's learned that the HRC export prices in November jumped by US$40~US$50/ton from the princes in August.
The latest boron-added HRC export quotes to Vietnam are at US$585/ton CFR, making buyers take wait-and-see position.
Affected by this factor, it's said that the Chinese traders might cut HRC export prices to gain orders.