Demand surge bolsters Chinese sheet prices

Dec 29, 2004 | 08:05 AM |

Strong demand for flat-rolled steel in China and continuing tight supplies have resulted in a surge in both domestic and imported product prices over the past week, Chinese steel traders said.

Japanese and South Korean steelmakers are now offering cold-rolled coil for first-quarter delivery at $720 to $770 per tonne f.o.b., according to a Shanghai-based steel trader, a significant rise from the $640 to $670 quoted for fourth-quarter 2004 shipments. Hot-dipped galvanized from Japanese integrated makers is pegged at around $810 per tonne f.o.b. for January-March delivery, he said.....

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