China’s hot rolled coil has been increased by as much as US$ 25 per ton last week, supported by the strong domestic price. The latest transaction price was around US$700 per ton FOB basis. Some traders even intend to increase the prices further up to US$720/ton.

Asian countries are the main destination of China’s HRC exports.

Domestic HRC prices kept going up in recent weeks because of higher iron ore and coke costs. As a result, the export prices are pushed up further. Same situation also can be found with the rebar exports. The rebar export price was raised by US$30-40 per ton on the robust demand in Asian steel market.