Poor Transactions in The Chinese Sheet Metal Export Market Due To Price Decline

The price of flat materials in China has continued to decline over the past week. According to feedback from market traders, due to extreme high temperatures, the number of transactions in the market has decreased, resulting in limited demand. Prices are expected to bottom out this week. The price of sheet metal in East China is 3465-3515 yuan/ton (equivalent to 486-493 US dollars), which has decreased from 3485-3560 yuan/ton on July 26, marking the seventh consecutive week of price decline.

In terms of exports, the quoted price for Chinese hot coil exports to the UAE is $530-540/ton CFR UAE, a decrease of $10/ton compared to the previous quoted price of $540-550/ton CFR. The quotation for hot-dip galvanized coils is 695-700 US dollars/ton CFR, a decrease of 30 US dollars/ton compared to the previous range of 710-730 US dollars/ton CFR. The quotation for cold-rolled coil is $580-600/ton CFR, a decrease of $15/ton compared to the previous price of $610-615/ton CFR. The quotation for exporting 1.2mm thick hot-rolled coils to Saudi Arabia is $590-600/ton CFR, a decrease of $5/ton compared to the previous quotation of $600-605/ton CFR. The expected actual transaction price is between $560-570 per ton CFR.