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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