This week imported HRC offers to Bangladesh from China witnessed further drop by USD 5-10/MT W-o-W following slump in export offers from China. Currently imported HRC (2mm) offers to Bangladesh is assessed around USD 585-590/MT CFR Chittagong for Nov-Dec shipments. Last week’s assessment was at USD 595-600/MT CFR Chittagong
Chinese HRC export offers have come down this week by USD 10/MT W-o-W and is hovering around USD 545-555/MT FoB basis.
Meanwhile, China based major steel mill Baosteel is offering HRC (2mm) at USD USD 585-590/MT CFR basis. However last week mill was offering around 600/MT,CFR levels.
Market participants mentioned that a major importer based in Bangladesh has booked around 10,000 MT HRC from China’s major Baosteel at USD 585/MT CFR basis for November shipments.
However Bangladesh based steel importers are eyeing for further decline in Chinese HRC export offers as the steel market in China continue to remain dull and weak over sluggish demand and uncertainty regarding upcoming production cuts.
Bangladesh Bulk Steel Coil Imports in Sep’18- As per provisional data maintained with SteelMint, Bangladesh bulk vessel imports in Sep’18 stood at 71,910 MT, lower by 12% against 81,368 MT in Aug’18.
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