SHANGHAI Chinese H-beam
export offers fell this week as steelmakers made cuts in an
effort to bolster sales.
Base H-beam export offers are
now at $570 to $580 per tonne f.o.b., down from $580 to $590
last week, while boron-containing small and medium H-beams for
January shipment are between $560 and $565 per tonne f.o.b.,
down $10 to $15 in the same comparison.
"We reduced export offers a
little to push for more sales since overseas buyers didnt
make many purchases previously when prices were higher," an
export director at Shandong Iron & Steel Group Co. Ltd.
told AMM sister publication Steel First,
adding that exports rose slightly this week at the latest price
But Shandong Steel isnt
making a profit on overseas sales, he said, as H-beams must be
sold at $590 per tonne f.o.b. to break even.
Stiff competition among Chinese
steelmakers also is a contributing factor, a Maanshan Iron
& Steel Co. Ltd. export manager said. Several small
steelmakers and private players have been selling H-beams at
low prices, forcing others to discount.
A softening in H-beam prices and sales volumes in the
domestic market this week has steelmakers less confident about
maintaining higher export tag.
A version of this article was first published by AMM sister
publication Steel First.