Chinese HRC export offers increased sharply by USD 75/MT over last 45 days owing to strong demand experienced in the domestic market. This week Chinese exporters have raised offers again by USD 3-20/MT.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 480-510/MT, FoB China. Last week the offers were heard in the range of USD 475-485/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 metric tonnes.
Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,780-3,800/MT including VAT & other taxes.
Major Chinese mills are also offering HRC in the range USD 490-500/MT,FoB basis.However,some deals have been concluded with Pakistan in range of USD 495-505/MT on CFR basis.Besides,this deals have also been settled with Vietnam in the range of USD 505/MT,FoB basis.
HRC export offers have shown their highest trend since Mar’17 and are likely to touch USD 515/MT further in the global market owing to rise in paper market.
Vietnam HRC import offer rises on strong buying interest in global market-
Surge in global prices results to rise in Vietnam HRC import offers by USD 13-15/MT W-o-W and are heard in the range of USD 503-515/MT on CFR basis.Moreover buyers are busy replenishing the stocks and are ready procure inventories on higher prices.
HRC export offers as on 19th Jul’17
| Particulars | HRC |
| FoB China | 480-510 |
| FoB Black sea | 465-470 |
| FoB India | 500-510 |
| FoB Japan | 500-505 |
| CFR South Korea | 535 |
Prices in USD/MT
Source-SteelMint Research
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