Market sources shared with SteelMint, that imported HRC offers increased from China this week. Post General Assembly elections in Bangladesh which were concluded December, imported HRC prices have inched up by USD 5-10/MT this week.
Also increase in steel prices of China amid appreciation of Chinese Currency Yuan in turn led to increase in imported HRC offers to Bangladesh.
Currently imported HRC (1.8-2mm) offers to Bangladesh is assessed around USD 530-535/MT CFR Chittagong for Feb/March shipments. Offers from other mills are also learned to be around same levels. .
Japanese & Korean imported HRC offers to Bangladesh-Market participants shared that South Korea based steel maker – POSCO is also offering HRC to Bangladesh at around USD 525-530/MT CFR Chittagong port for Feb end March shipments.
Meanwhile Japanese based steelmakers are offering imported HRC to Bangladesh at around USD 535-540/MT CFR basis for Feb end March shipments.
Market participants based in Bangladesh quoted,”Market sentiments in Bangladesh have improved post general assembly which was scheduled in the month of December.Also importers have started actively booking the material in market”.
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.In the month of Dec’18 no import volumes were reported
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