Global HRC Export Offers Inch Down After Holidays

Chinese HRC export offers stable amid quiet market:  Chinese HRC export offers continued to remain firm with limited trades reported after New year holidays. Meanwhile domestic HRC prices fell marginally amid demand slow down. Also amid approaching New Year holidays, trades remained on lower side.

Currently HRC export offers from China is assessed around USD 480/MT FoB basis.

Meanwhile prices of HRC in the domestic market fell further by RMB 30-80/MT on D-o-D basis and presently domestic HRC is assessed around at RMB 3,650-3,660/MT (ex-works) in Eastern China.

Imported HRC offers to Vietnam inch down – Imported HRC offers dipped further over thin trades.

Current trades of HRC to Vietnam – Week 01, 2019

1. HRC (SAE 1006) 2-3mm / Chinese offer – Wisco Steel is at USD 490/MT CFR Vietnam. Last offer was heard at USD 495/MT, CFR.

2. HRC (SAE 1006) 2-3mm / Chinese offer- BaoSteel is at USD 492/MT, CFR Vietnam.

3. HRC (SAE 1006) 2-3mm /Indian offer – Indian mills are heard offering at USD 480/MT CFR Vietnam.

HRC export offers from CIS nations decline – Amid holidays, HRC export offers from CIS nations have weakened. Current HRC export prices from CIS nations is assessed at USD 440-460/MT, FoB Black Sea which was at USD 450-470/MT, FoB a week ago.