Global Price Watch

Dec 03, 2009 | 10:38 AM |

Chinese hot-rolled coil and plate offers around $45 per tonne higher than a month ago have turned South Korean importers into cautious buyers, trading sources said. Hot-rolled coil export quotes have risen to $525 to $535 per tonne c.f.r. from $480 to $490 in late October, and plate export quotes are $535 to $545 per tonne c.f.r., up from $490 to $500.

"There is actually little profit margin on imports," a Korean trader said. "Although import prices are likely to rise further, most potential buyers won't accept the updated price, taking into account the seasonal downturn in the domestic market." At the same time, higher stocks in Korea are hindering imports. ....

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