Chinese HRC Export Offers Fall by USD 15/MT W-o-W

Lower buying interest from importers have pulled down Chinese HRC export offers this week by USD 15/MT W-o-W.

Currently HRC export offers from China are hovering in the range of USD 495-500/MT,FoB China. However last week the offers were prevailing in the range of USD 510-515/MT, FoB basis.

Market participants shared that with buyers bidding USD 10/MT lower than the current HRC export offers and many exporters have not concluded any deals.

Meanwhile prices of HRC in Chinese domestic market are heard in the range of RMB 3,600-3,630/MT. However today domestic HRC prices in China have moved up slightly by USD 5-7/MT over rise in steel futures.

Japanese HRC export offers remain stable – Amid production cut from major Japanese based steel makers, HRC export offers continue to remain firm. Present HRC offers are heard at USD 535-540/MT, FoB Japan. Japanese HRC offers to Bangladesh stand at USD 580-590/MT, CFR Chittagong.

Global HRC export offers – Week 12, 2017

Source: SteelMint Research