This week imported HRC offers to Bangladesh fell further by USD 10-15/MT owing to volatile prices in China.Fluctuation in Chinese steel prices resulted to constant decline in imported HRC offers from Bangladesh.
Currently imported HRC (2mm) offers to Bangladesh is assessed around USD 522-525/MT CFR Chittagong for January shipments. Last week’s prices assessment was at USD 530-535/MT CFR Chittagong.
Meanwhile currently Chinese mills are offering HRC exports around USD 485-490/MT FoB basis.
Few market sources shared that last week Bangladesh based HRC importer booked around 50,000 MT HRC at around USD 525/MT CFR basis for January shipments.
Meanwhile a major Indian mill also booked HRC with Bangladesh at around USD 510/MT CFR basis.
Market participants commented that,”Usually this month is considered to be the peak season for Bangladesh market but due to general assembly elections scheduled towards end of this month market sentiments remain slow.Buyers are not aggressively booking the material amid less demand”.
Japanese mills was offering imported HRC to Bangladesh on higher side which is around USD 550/MT CFR basis. However no major deals concluded.Meanwhile no active offers from Korea for January shipments.
Bangladesh Bulk Steel Coil Imports Decline in Nov’18 – As per provisional data maintained with SteelMint,Bangladesh bulk vessel imports in Nov’18 stood at 46,420 MT in Nov’18 decline by 40% against 77,873 MT in Oct’18.
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