The Chinese market for Electrolytic Chromium Coated Steel (ECCS) faced considerable downward pressure with a x.xx price decrease in August xxxx, to $xxx/MT FOB Shanghai, while feedstock costs were still rising. The context for the decision-making includes the intensity of decline in ECCS throughout the last x-months has been continuous, from March&#xx;s peak of $xxx/MT to August&#xx;s level of $xxx/MT, equating to a decline of xx.xx. In addition to the fact that there has been prolonged decline from April&#xx;s level of $xxx/MT and May&#xx;s level of $xxx/MT through June&#xx;s $xxx/MT, and July&#xx;s level of $xxx/MT, has clearly demonstrated continued structural oversupply hijacking cost-support characteristics within the specialty steel space.
Key Takeaways:
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Chinese ECCS prices fell x.xx month-on-month to $xxx/MT, continuing x-month decline from $xxx/MT
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Cold Rolled Coil feedstock surged from June&#xx;s $xxx/MT trough to August&#xx;s $xxx/MT (+x.xx)
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Italian automotive sales collapsed xx.xx from July&#xx;s xxx,xxx to August&#xx;s xx,xxx units
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Mexican automotive...
