How big is the fish?
China Tender Price increase for April 2019
As anticipated earlier, April bidding prices were announced at 300 rmb/mt above March level yesterday.
Although it is reported marginal in some newsletters, in fact this is a 4% increase in price including VAT, meaning a 7.1% increase of actual price ex VAT, which is quite significant for one month upside. This is the biggest hike since July 2018 and also equals to the resent price increase in European Benchmark.
This increase is mainly pushed by various factors from the supply side, still remains to be seen if it will continue in April depending on where the demand will be.