This week Chinese export market witnessed a fall in prices owing to stability prevailed in the domestic market. Export offers of HRC fell by USD 5-10/MT W-o-W amid stagnant domestic market.
Current export offers of HRC are assessed in the range of USD 500-510/MT, FoB China for Feb/Mar shipments, whereas last week offers were recorded in the range at USD 510-520/MT, FoB basis.
Buying continues to remain lean due to limited trades activity in the domestic market. The Chinese manufacturers are reluctant to take any orders before the Chinese New Year holidays as they are anticipating sharp rise in domestic prices once the market reopens.
As per sources some deals have been settled at USD 495/MT,FoB basis, however deals from South East Asian countries remained static this week owing to coming holidays. However the buyers from South Korea and South America are about to strike some deals and sources have also reported that 1,00,000 MT of HRC have been exported to South Korea at USD 500-505/MT,FOB basis.
China CRC export declined in 2016
As per the Chinese custom data,Chinese mills have exported 3.26 MnT of CRC in 2016,declined significantly by 32.5% as compared to previous year. Compared with the numbers for the month of Dec’15 China has shipped 2,89,783/MT of CRC in Dec’16 down by 11.85%.
Global HRC Export Offers:
CIS-origin HRC export offers are hovering in the range of USD 480-500/MT, FoB Black Sea.
Whereas HRC export offers of India are heard to be in the range of USD 510-520/MT,FoB India. Last deals were concluded at USD 510-515/MT, FoB India.
Meanwhile Japan HRC export offers remain consistent this week and are heard to be in the range of USD 525-530/FoB Japan.
HRC Export offers as on 23 Jan’17
|
Particulars |
Prices |
| FoB China | 505-510 |
| FoB Black Sea | 480-500 |
| FoB India | 510-530 |
| FoB Japan | 525-530 |
Prices in USD/MT
Source-SteelMint Research
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