Chinese manufacturers have commenced to decline the HRC export offers due to to weakening in domestic market. The market sentiments in China has become uncertain over last week which has forced manufacturers to suspend their export offers.
Currently, Chinese HRC export offers are hovering in the range of USD 465-470/MT, whereas export offers of CRC are in the range of USD 530-540/MT.
Chinese domestic market has retreated again causing unstable prospectus for the overseas buyers . Manufacturers are unable to forecast the future trend of the market and have currently adopted the wait and watch approach.
Domestic HRC prices in Shanghai are assessed at RMB 3,200-3,210 which is equivalent to USD 464-466/MT.Since, domestic market has witnessed the downfall in the prices so it has also lead to scale down the HRC export offers from China.
Currently , no major deals are heard and market participants are anticipating further decrease in China’s HRC export offers.
Meanwhile , CIS – origin export offers are heard to be in the range of USD 460-470/MT,FoB Black sea. Whereas, HRC export offers from India are also assessed at USD 480-485/MT,FoB India.
Flat Product Prices as on 21 Nov’2016
| Particulars | HRC |
| FoB China | 465-470 |
| FoB Black sea | 460-470 |
| FoB India | 480-485 |
Prices in USD/MT
Source-SteelMint Research
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