As was widely predicted across the region last month, sheet prices throughout Asia have risen significantly into March and in China have undergone some of the greatest hikes since 2003. In Shanghai, for example, cold-rolled (CR) coil prices have risen by an unprecedented 114 US dollars/tonne to a record RMB6,450/tonne (907 US dollars/tonne) on an ex-warehouse basis. In other Asian markets, meanwhile, prices continue to accelerate and 100 US dollars/tonne surges have again been seen right across the board. Moreover, new hikes are expected in the short term, as Taiwanese re-rollers, amongst others in the region, are now offering HDG coil for 1,120 US dollars/tonne c&f, which is 140 US dollars/tonne above prevailing levels.
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