China cold-roll tags dip but buyers still waiting

Mar 05, 2013 | 04:00 PM | Catherine Ngai

Tags  Chinese cold-rolled sheet, steel traders, steel prices, Commerce, Lunar New Year, catherine ngai

NEW YORK — Chinese cold-rolled sheet prices into the United States have started to pull back after a run up in the weeks leading up to the country’s Lunar New Year holiday in mid-February, but traders say the flat-rolled product is still a hard sell into the U.S. market due to a narrow price spread between domestic and foreign material.

"China is coming back down the hill again pricewise, but no one is making a big bet on imports right now," one steel trader said. "The prices aren’t as low as the September/October period ... and even though they’ve come down from where they were (before the Lunar New Year), they’re nowhere near where they were back in the fall."....

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