Global HRC Market Overview – Week 20, 2018

Chinese HRC export offers remain stable over limited buying-Nation’s HRC export offers remain steady over limited buying in domestic market.Meanwhile nation’s domestic flat steel prices inched up slightly owing to volatile futures.

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.

Major mills in China were offering HRC export offers in the range of USD 595-605/MT,FoB China.

Prices of HRC in the domestic market are gauged at RMB 4,220-4,240/MT (ex-works) in Eastern China and 4,070-4,090 /MT ( Northern China).

Also market sources shared that few major mills in China are undergoing for maintenance in next few weeks.Thus it is expected that prices of HRC may remain stable in second half of this month.

CIS origin HRC export offers correct sharply- CIS origin HRC export offers move down significantly by USD 20-30/MT W-o-W. Previously,mills were unable to sell the material for June shipments over higher prices. Thus they decline the prices to push the buying activities in CIS nations.

Currently HRC (2.5 mm S235 JR) are heard around USD 550-570/MT FoB Black sea.However last week the prices stood in the range of USD 580-590/MT FoB basis.

Major mills are offering HRC in the range of USD 560-580/MT FoB Black Sea.

Vietnam HRC import offers from Chinese mills decline-
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 615/MT, CFR Vietnam. Last assessment was at USD 625/MT, CFR.

3.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 610 /MT CFR Vietnam.

Global Flat Steel Export Offers – Week 20,2018

Source-SteelMint Research