According to market sources report to SteelMint, major Korea based steel mill is offering HRC (2.5MM ASTM A36) in the range of USD 595-600/MT CFR Chittagong which is equivalent to USD 560/MT FoB South Korea. Trade sources mentioned that Bangladesh based importers are in ‘wait & watch’ scenario before booking cargoes from South Korea anticipating price hike in the near term.
Last week Japanese mill also offered HRC (1.8mm) cargoes to Bangladesh which is heard around USD 610/MT CFR basis.
Vietnam HRC Import Offers Stable Amid Subdued Demand-Vietnam HRC import offers remained stable owing to weak buying among overseas buyers.Since the end users are already holding enough inventories which leads to sluggish demand among buyers
Current imported HRC offers for Chinese origin HRC (SAE 1006) is around USD 552-565/MT CFR Vietnam which is similar to previous week prices levels.
Although China,India and Russia are offering imported HRC at USD 555-565/MT CFR basis,however by far no deal has been concluded this week amid limited inquiries from buyers.
Chinese HRC export offers increases marginally over domestic gains-Nation’s HRC export offers has started showing uptrend USD 5-10/MT amid gains in the domestic market.Strengthening domestic prices leads to higher HRC export offers from China.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 560/MT, FoB China.Last offers were heard in the range of USD 555-560MT on FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.
Prices of HRC in domestic market moved up by RMB 20/MT D-o-D and are hovering in the range of RMB 4,150-4,180/MT (Eastern China) and RMB 4,130-4,150 (Northern China) including VAT & other taxes.
Market sources attributed that purchasing sentiments among overseas buyers is low and mills are reluctant to negotiate the prices since they are are getting higher profit margins in the domestic market.
Global Flat Steel Export Offers-Week 49
| Particulars | Currency | Prices |
| HRC, FoB China | USD/MT | 560 |
| CRC, FoB China | USD/MT | 595-600 |
| HRC,FoB South Korea | USD/MT | 560 |
| HRC,CFR Chittagong from South Korea | USD/MT | 595-600 |
| HRC,CFR Chittagong from Japan | USD/MT | 610 |
| Chinese Domestic HRC, ex-works* | RMB/MT | 4,150-4,180 |
| HRC, FoB Black Sea | USD/MT | 515-540 |
| CRC, FoB Black Sea | USD/MT | 580-595 |
| HRC, FoB India | USD/MT | 540-545 |
| HRC, ex-works Iran (2.5mm-15mm)* | USD/MT | 607 |
Source-SteelMint Research
*including VAT
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