After a hiatus of almost a month and a half, fresh offers for HRC are being heard from Japan to Bangladesh. These HRC (2mm) offers are for prime grade steel and are being heard at USD 400/MT, CFR Chittagong basis. These offers are costlier than the commercial grade HRC offers from Japan by USD 10-15/MT.
The demand for flat steel in the country has improved post Islamic holy month of Ramadan in June. The HRC (ASTM A36) offers from China to Bangladesh are being heard at USD 360/MT, CFR Chittagong.
India’s HRC export offers to Europe which were up last week by USD 10-15/MT, moved down once again to its previous levels at USD 390-395/MT, FoB India amid weak buying interest from European buyers.
China’s HRC export offers are up this week by USD 10/MT backed by uptrend in its domestic market. Current offers for chromium added HRC are being heard at USD 3665-370/MT, FoB China.
China has recently announced its plans to cut its steel capacity by 100-150 MnT in upcoming five years. Also recently China and EU (European Union) has established a bilateral mechanism to deal with country’s steel overcapacity.
CIS-origin HRC is currently being traded at USD 350/MT, FoB Black Sea, down by USD 10/MT against last week.
HRC prices as on 18 Jul’16
|
Particulars |
Prices in USD/MT |
| FoB China | 360-370 |
| FoB Black Sea | 350-355 |
| FoB India | 390-395 |
| CFR Bangladesh from Japan (prime quality) | 400 |
| CFR Turkey from China | 380 |
| CFR Brazil from Russia | 380-390 |
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