China: Prices steady but demand outlook still bleak

摘要

There was spot business reported in China over the last week in the low $90s/mt CFR, which led to some hope of upwards momentum, but concerns persisted over market fundamentals. Crushed lump business remained in the mid-to-high $70s/mt CFR, while molten spot business seemed slightly firmer in the low-mid-$80s/mt CFR. The reduction in Aramco’s price posting for May, although it was only $5/mt, was taken as a sign that prices will not be moving up over the coming weeks.