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| South Korea inks HRC import pact with Angang and Bengang - 02 Jul, 2009 | ||
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It is reported that CRC producers in South Korea has signed HRC import agreement with Chinese based Angang for August delivery and Bengang for August to October delivery. As per report the contract price was set to be USD 485 per tonne CFR. While, the present export quotation by Chinese tier two steelmakers is posted at USD 500 to USD 520 per tonne. An industry insider noted that "It is just a temporary phenomenon that CRC producers are short of HRC for the moment." He added that "Although the current HRC export quotation climbs above USD 500 per tonne yet it is not workable to import with a price around USD 500, citing the price of CRC and GI sheet.” (Sourced from MySteel.net) Visit www.Mysteel.net for real time access to China steel news! | ||
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