Chinese HRC Export Offers Edge Up as Steel Futures Rebound

China’s HRC export offers started to rebound amid gains in domestic market and recovery in iron & steel futures.

Currently Chinese HRC price assessment is in the range of USD 570-590/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.

Major mills in China like Benxi iron and steel are offering HRC at USD 580/MT FoB China.However other Chinese mills are offering at USD 570-590/MT FoB basis.

Meanwhile HRC prices in the domestic market are gauged at RMB 3,730-3,780/MT (ex-works) in Eastern China (up by RMB 30/MT D-o-D) and at RMB 3,710-3,740/MT ( up by RMB 40/MT ) in Northern China.

CIS nations export offers remain muted – CIS nations remained silent and have adopted wait and watch mode amid uncertainty in Chinese steel prices.Suppliers are holding enough inventories for April shipments and are observing the Chinese HRC export offers before revising the offers.

Currently HRC export offers from CIS nations are prevailing in the range of USD 605-625/MT,FoB Black Sea.However as per previous week price assessment was in range of USD 610-625/MT FoB Black Sea.

Russian based mills are offering HRC at USD 625/MT FoB basis which is unchanged as compared to previous week offers.

Indian HRC export offers remained unchanged-Indian HRC export offers remained unchanged as the European buyers have turned silent.Currently HRC export offers are assessed in the range of USD 640-650/MT FoB India which is equivalent to USD 680-690/MT CFR Europe.

Global Flat Steel Export Offers-Week 13, 2018

Source-SteelMint Research