The dollar traded above 7.2 against both the onshore and offshore yuan, with the dollar hitting a 14-year high of 7.2305 against the onshore yuan. Affected by this, the USD price of China’s steel export fell slightly today, although the domestic trade price of various varieties is stable and stronger today, rising by about 10-30 yuan/ton.

According to Mysteel, the export quotation of hot coil from large steel mills is basically stable, while the quotation of cold coil, galvanized, medium plate and wire rod is partially down. The leading steel mill hot volume offer is still at $580- $600 / ton FOB, while the traders are quoted at $560 / ton FOB mainly. The export price of cold reel has basically dropped by $5-8 / ton today. Now the feasible price for SPCC cold reel export is $620-630 / ton FOB. The export offer for hot dip galvanization has basically dropped, the export offer for 80GSM is $650-670 / ton FOB, and the hot dip galvanization is $680-690 / ton FOB for 120GSM. Medium plate prices of leading steel mills were mostly stable, with some North China medium plate export offers reduced by $5- $10 / ton.