Iron ore prices plunge, Chinese steel export prices fall,

Iron ore prices plunge, Chinese steel export prices fall,


China’s export prices for hot rolled coil (HRC) continued to move down over the past week amid rising inventory pressure in the domestic market.

Export prices for Chinese cold rolled coil (CRC) and hot dipped galvanized coil (HDG) have also fell further, after price drops in the local market.

Following the dynamics in Chinese flat steel exports, export prices for CIS-origin HRC and CRC have dropped by between $20 and $35 per tonne.

Prices in the Black sea slab export market remained largely unchanged over the past week despite declines in the CIS flat steel export sector, as reduced availability of the semi-finished material from both Russia and Ukraine, helped to support the CIS slab export prices.

In Turkey, long steel producer Kardemir increased its rebar and round bar prices, and reduced sections and angles prices.

Also, Metal Bulletin reported in its global stainless wrap that relatively high prices for stainless steel products across the globe in the first quarter of 2017 are unlikely to be sustained in the second quarter, as high stock levels and modest demand create problems for producers in the Asian, European and North American markets.

European steelmakers are targeting higher prices for finished long steel products.

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