Reportedly, South Korea's export quotes of cold rolled coils (CRC) to China have fallen by US$15~US$20/ton averagely over the past three weeks since the steel prices have dropped in the Chinese domestic market.
Last week, the South Korean steel giant Posco offered the commercial grade CRC with thickness of 1 mm quoted at US$680~US$685/ton CFR to China.
For the prospect, market insiders predicted that South Korean CRC export quotes to China would drop further in the near future as the CRC prices have continued falling in the Chinese market.