Wide spreads stall imports into China

摘要

Import activity into China was light this week, largely because of a wide gap between seller and buyer expectations. Recent heavy price cuts by domestic producers have also made imported material less attractive to many Chinese users. There was an offer at $49.25/t CFR, basis 5,500 kc NAR, for a November Capesize arrival into South China, while other suppliers were mainly trying to sell at $49.50-50.00/t CFR, same basis.