Major Indian Steel Mills Eye for Higher HRC Export Offers

Following hike in global HRC prices and limited allocations for exports, Indian flat steel makers have raised their expectations for export offers. Recently few trade sources shared that major Indian manufacturer is eyeing for higher export offers by about USD 10-15/MT than the offers which were prevailing last week.

After increase,Indian HRC export offers for Europe will be heard in the range of USD 660-670/MT FoB India (USD 700-710/MT CFR Europe).

As per previous price assessment the same was registered in range of USD 650-655/MT on FoB basis. However with very limited allocations, and high export offers no major deals have been concluded.

Chinese HRC export offers rises over domestic gains- Chinese mills witness hike in HRC export offers by USD 10-15/MT owing to strengthening domestic market.

Currently,commercial grade ASTM A36 export offers are prevailing in the range of USD 600-605/MT,FoB China against previous week’s prices which was USD 585-595/MT on FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.

However major mills in China like Benxi Iron and Steel are offering on higher side which is around USD 605-615/MT,FoB basis.

Meanwhile prices of HRC in domestic market are heard at RMB 4,170-4,190/MT in (Eastern China) and RMB 4,100-4,130/MT (Northern China) including 17% VAT.

CIS nation increases HRC export offers remain on higher side on supply constraint-CIS origin HRC export offers continued to remain on higher side.Rise in semi finished prices along with supply shortage has lead to rise in HRC export offers from CIS nations.

Currently HRC export offers from CIS nations are prevailing in the range of USD 600-610/MT,FoB Black Sea.

South Korea HRC export offers rose sharply by 15-20/MT – Major Korean mill Hyundai Steel have raised the HRC export offer by USD 15-20/MT this week.

Currently Korean mills are quoting HRC export offers at USD 680-690/MT CFR India. This will be equivalent to USD 645-655/MT FoB basis. Although no major deals have been concluded yet owing to high offers.

Global Flat Steel Export Offers-Week 9 2018

Source-SteelMint Research