China hikes export quotes of H section to South Korea
Recently, Chinese steel mills have hiked the export quotes of H section to South Korea; however, the price rise was unfavorable.
It’s known that Chinese Masteel postponed its exports of boron-added H section steel in early April and hiked its export quotes of medium-size H section steel to US$760~US$770/ton.
Furthermore, the company increased the export quotes by US$30/ton for June deliveries, driven by higher input costs and surged domestic steel prices.
Industry sources predicted that the other steel mills in China may follow Masteel to raise the export quotes; however, the price rise may be unfavorable to South Korean buyers.
At present, the prices of small-size H section steel originated from China are at 810,000 won~820,000 won/ton, decreasing by 30,000 won~40,000 won/ton from a month earlier.
News Date 09 Apr 2012 11:34:15 reported by Elaine Lin