South Korea’s Posco has lifted cold rolled coil export offers by $70-80 to $700 fob per tonne for March delivery.
“Everybody is expecting the prices to rise by at least $70, so that price hike is reasonable,” claimed a Posco official, adding that supply is “really tight” as demand is good.
Posco offered $620 per tonne fob for its cold rolled coil in December.
China’s export offers on cold rolled coil have risen by $30 per tonne since mid-December, mainly driven by higher domestic prices and climbing raw material costs.