Global HRC Market Overview – Week 21, 2018

Chinese HRC Export Offers Slip Amid Softening Domestic Market- Nation’s HRC export offers fell marginally by USD 5-10/MT W-o-W following softening market sentiments in domestic market.

Currently Chinese HRC price assessment is in the range of USD 585-590/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 595-600/MT,FoB China.

Prices of HRC in the domestic market are gauged at RMB 4,240-4,260/MT (ex-works) in Eastern China and 4,080-4,100 /MT ( Northern China).

CIS origin HRC export offers decline further by USD 10/MT– CIS origin HRC export offers decline further by USD 10/MT W-o-W as the Islamic holy month of Ramadan has started which lead to weak buying in market.

Currently HRC (2.5 mm S235 JR) export offers are heard around USD 540-575/MT FoB Black sea.However last week the prices stood in the range of USD 550-570/MT FoB basis.

Major mills are offering HRC on higher side in the range of USD 560-570/MT FoB Black Sea.

Japanese steel mills may hike HRC export offers in Q3CY18-Market participants mentioned that Japanese steel mills are planning to increase prices in Q3CY18 amid robust demand in domestic market.Growth in shipbuilding industry and structural plates is also expected to raise steel prices in near term.

Currently Japanese and Korean firms are offering HRC at USD 655-660/MT CFR basis for Indian market. Meanwhile offers for South East Asian nations are heard around USD 625/MT CFR Malaysia.

Imported HRC offers to Vietnam fall – Demand for imported Chinese HRC from China remained weak this week.

1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 610/MT, CFR Vietnam. Last assessment was at USD 625/MT, CFR.

2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 600 /MT CFR Vietnam.

Global Flat Steel Export Offers – Week 21,2018

Source-SteelMint Research