Global Flat Steel Market Overview – Week 16, 2019

Chinese HRC export offers increase amid strengthening domestic prices- Chinese HRC export offers reported surge this week following increase in domestic HRC prices.

Strengthening sentiments in domestic market amid increased buying and robust demand pushed up prices in upward direction.

Following this HRC export offers edge up by USD 5-10/MT on weekly basis.

Currently nation’s HRC export offer is assessed at around USD 535-545/MT FoB basis. Last week the offers stood at USD 530-535/MT FoB basis.

Meanwhile prices in domestic market surge by RMB 30-40/MT D-o-D basis. Domestic prices in eastern China (Shanghai) stood at RMB 4,000-4,020/MT.

And prices at Northern China stood at RMB 3,930-3,950/MT up by RMB 10-20/MT D-o-D basis in Northern China (Tangshan).

CIS-origin HRC export offers decline over dull trades- This week CIS nation’s HRC export offers witness steep fall by USD 10-15/MT amid weak buying and sluggish trades in CIS regions.

Currently offers are in the range USD 485-495/MT FoB Black Sea. Last week CIS nation’s HRC export offers were USD 500-515/MT FoB Black Sea.

Indian steel mills export HRC to Vietnam for May shipments- A major Indian mill based in western India booked 20,000 MT of HRC a USD 543/MT CFR to Vietnam for end Apr- May delivery. However Indian HRC export offers to Vietnam are heard at USD 540-545/MT, CFR Vietnam.

Meanwhile as per market sources few other Indian steel mills are in discussions regarding quantity and export prices to be offered to Vietnam for May shipments.

Indian based stockist books HRC from Japan for May shipments- Market sources shared with SteelMint that Indian based stockists booked around 20,000 MT of HRC from Japan for May shipments.As per an update received offer price is hovering at USD 570/MT CFR India for May shipments.

Imported HRC offers to Vietnam remain stable- This week imported HRC offers to Vietnam remain stable amid holiday scheduled in the beginning of the week on the occasion of Hungs Kings Commemoration.

Currently imported HRC export offers to Vietnam is around USD 545-550/MT CFR basis from China.

Meanwhile Russian based MMK steel is offering HRC at competitive prices which is around USD 530-535/MT CFR Vietnam.

Also Vietnam based major steel producer Formosa ha Tinh is likely to announce its revised HRC prices for June shipments towards end of this week.

Global HRC Market Overview – Week 16, 2019

Source- SteelMint Research