China's domestic & export prices surging
Time:Tue, 08 Oct 2024 10:11:46 +0800
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Industry insiders reported that China’s domestic spot prices continued their upward trend last week, returning to July highs and even setting new records during the holiday period.
With domestic prices rising, export prices have followed, with both price increases and the urgency to close orders to secure prices before getting higher.
Some buyers now regret not placing orders earlier, as the opportunity to lock in lower prices has passed. For example, Baosteel's cold-rolled steel materials saw a price increase of about US$30/ton before the holiday. Buyers initially considered the price too high and hesitated, but now face even higher prices, with pre-holiday quotes reaching nearly US$600/ton.
