Chinese HRC export offers fell marginally over decline in domestic prices- China’s HRC export offers fell marginally amid fluctuating prices in domestic market. Nation’s HRC export offers reduced by USD 5/MT on weekly basis.Currently Chinese HRC price assessment is in the range of USD 585-605/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.
Previously Chinese mills were offering HRC export offers in the range of USD 590-615/MT,FoB China.
Prices of HRC in the domestic market are gauged at RMB 4,180-4,200MT down by RMB 20/MT D-o-D basis (ex-works) in Eastern China and RMB 4,030-4,050/MT down by RMB 20/MT (Northern China).
However, overseas buyers are currently observing the market sentiments and are waiting for lower offers as the China’s domestic demand is expected to decline in late May and June.
CIS origin HRC export offers inched down slightly- CIS origin HRC export offers move down slightly by USD 5/MT.
Currently HRC (2.5 mm S235 JR) are heard around USD 580-590/MT FoB Black sea.However last week the prices stood in the range of USD 580-595/MT FoB basis.
Latest offers of HRC from Ukraine is around USD 610-615/MT CFR Turkey.This will be equivalent to USD 590-600/MT FoB Ukraine.
Vietnam HRC import offers from Chinese mills fall –
1. HRC (SAE 1006) 2-3mm / Chinese offer – Magang Steel at USD 605 /MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 620/MT, CFR Vietnam. Last assessment was at USD 625-627/MT, CFR.
3.HRC/ SAE1006 /Arcelor Mittal, Brazil Market : at USD 620/ MT CFR Vietnam.
4.HRC / Russian offer for SAE1006 /Vietnam market : at USD 610/ MT CFR Vietnam offered by MMK steel mill.
5. HRC/ Laiwu Steel Group , China market sold 10,000 MT HRC to Vietnam’s Hoa Sen at USD 600/MT, CFR
6. Vietnam’s Formosa to release fresh HRC offers on 20 May’18.
7. HRC/ Vietnam’s Nam Kim booked 20,000 MT HRC at USD 610/MT, CFR.
A major Indian steel mill heard to have booked 15,000-20,000 MT HRC for export to Vietnam at around USD 603-610/MT, CFR for June shipment. However Indian HRC export price expectation from other mills stand at USD 625-640/MT, FoB India.
Global Flat Steel Export Offers – Week 19, 2018
| Particulars | Currency | Prices |
| HRC, FoB China | USD/MT | 585-605 |
| CRC,FoB China | USD/MT | 625 |
| HRC, FoB Black Sea | USD/MT | 580-590 |
| CRC, FoB Black Sea | USD/MT | 630-640 |
| HRC, FoB India | USD/MT | 625-640 |
| HRC ,CFR Vietnam from China | USD/MT | 605-620 |
Source-SteelMint Research
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