In the latest conversation with market sources based in Bangladesh, SteelMint analyzed that imported HRC offers to Bangladesh from China witnessed decline by USD 12-17/MT.
As per an update received Bangladesh based steel importers booked HRC from Taiwan and China for June end- July shipments.
Two major steel importers based in Bangladesh have booked 10,000 MT HRC from Taiwan based CSC (China Steel Corporation) at USD 554-555/MT CFR Chittagong port for June end- July shipment.
Meanwhile another major steel importer has booked 10,000 MT of HRC from Chinese steel mill at USD 548/MT CFR Chittagong for June end or July shipment. Thus weakening Chinese HRC export offers in turn lowered HRC import offers to Bangladesh.
Prior this, imported HRC offer to Bangladesh from China was hovering around USD 560-565/MT CFR Chittgong port.
However no offers are being heard from Korea and Japan for July shipments.
A steel importer based in Bangladesh shared that, “Amid ongoing Ramadan festive season trade activities remained moderate with limited deals reported for July shipments”.
Further he shared that post festive season importers may start booking the material actively ahead of rainy season arriving in month of July.
Bangladesh bulk vessel HRC import data in May’19- As per provisional data maintained with SteelMint, Bangladesh bulk vessel imports in May’19 summed-up to 69,372 MT and shrunk by 19% against 85,846 MT in Apr’19.
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