Upturn in Chinese flats export prices gains momentum

摘要

Chinese flats producers acted according to buyers' expectations: having sold out products for April shipment, they have tabled a $5-25/t gain in export prices for May shipment against the week-ago level. Prices have been bolstered by improved domestic market sentiment, falling stock levels and weaker competition in the region, as Russian suppliers have sold out March production and are temporarily out of the market. Increased quotations of import iron ore have supported prices as well.