Global offers for Hot Rolled Coils (HRC) have corrected almost $20-30 per ton from last one month, which have moved up aggressively in the month of Feb-Mar.
A weak recovery of domestic demand and a significant level of accumulated stocks of finished products force Chinese suppliers to carry out an aggressive policy in the export markets. Over the last week export quotations for HR and CR products have slumped by $5-10/t.
In same lines offers from Ukrainian suppliers have gone down to around $550-560/t FOB, although bids are lower than offers.
Fall in scrap prices in US markets have prompted suppliers to offer discounts for their material.
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