Massive steel price volatility emerges in China

摘要

Prices became highly volatile since China’s return from holiday in early May. Chinese export prices had already taken a huge step higher in mid-April as the market began fully pricing in the removal of the export tax rebate (subsequently confirmed and implemented). But starting from the week of 10 May there was a further massive leap upward of about $90 /t in HR coil and rebar prices FOB Tianjin. For HR coil this took Chinese export prices above $1,000 /t for the first time ever.