Chinese long product export prices increasing

China's exported rebar and H beam prices to South Korea have continuously increased, as the rebar price soared to US$480/MT (CFR) and H beam price at US$580/MT (CFR).

This rise is reflecting the seasonally strong demand and a lack of imports, especially for the high tension rebar.

The inventories at seven major rebar mills in South Korean were at 124,000 tons yesterday, up by some 10,000 tons from last week, but still at very low levels.