H-beam export market has slumped on thin trade, shedding $20
per tonne over the past week.
boron-containing, small- and medium-sized H-beams were trading
at $560 to $570 per tonne f.o.b. May 2 for shipment in June,
down from $580 to $590 per tonne f.o.b. a week ago.
Base export offers for the
product also dropped $15 per tonne over the same period to $575
to $580 per tonne f.o.b. for June shipment.
"Export orders for June are
lower than those for May shipment, and export prices have just
fallen again," an export director at a steelmaker in
Chinas Shandong province told AMM sister
publication Steel First.
Bookings have only been for
small quantities of cargoes at the moment, the export director
Another steelmaker in Tangshan,
in northern China, also reported weak sales.
"Business is thin and most
overseas buyers are not even placing bids, as they expect even
lower prices in the coming weeks," an export manager at the
Falling billet costs have also
contributed to the decrease in H-beam export prices, exporters
Tangshan billet was changing
hands at 3,150 yuan ($507) per tonne May 2, down from 3,200
yuan ($515) per tonne a week earlier.
"Export prices for H-beams could
face additional downward pressure if prices for raw materials
such as iron ore and coke fall further," a trader in Shanghai
Chinas domestic H-beam prices also softened this week,
with prices for H-beams in 200- by 200-millimeter sizes at
3,690 to 3,790 yuan ($594 to $610) per tonne in Shanghai, down
10 yuan ($2) from a week ago.
A version of this article was
first published by AMM sister publication Steel First.